Ryan McMillin pointed out that memecoins Jeo Boden (BODEN) and Doland Tremp (TREMP) helped Solana surpass Ethereum in terms of trading volume. According to the expert, these assets will be actively traded in the next few months. The rise in their prices coincided with the support of cryptocurrencies by former US President Donald Trump and the skeptical attitude towards virtual coins on the part of the current head of state Joseph Biden.
“Solana's price could rise to $400 and would be supported by more liquidity entering the market as the U.S. Treasury takes steps to strengthen the economy,” McMillin said.
He believes that investor confidence in the blockchain has been restored, and although memcoins are speculative instruments, they help tokenize real assets. According to the analyst, the increase in transaction volume served as a stress test for the Solana network, and it was successfully passed.
Earlier, analysts at the Franklin Templeton investment fund, which manages assets worth $1.5 trillion, suggested that SOL has a chance to take third place in terms of market capitalization.
Source: Bits
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