Following an uptrend that lasted only a few days, investors are beginning to exit their positions in Solana (SOL) and Dogecoin (DOGE) as both coins reverse due to rising negative volatility. Instead, they have turned to a new AI coin in the crypto market, which is set to achieve a 1,550% growth in the near future.

Here, we explain how the new AI coin is bullish while SOL and DOGE struggle with emerging bearish sentiments!

Solana Declines Despite Long-term Optimism

After attaining a seven-week high of $161.80 on September 29, 2024, SOL, the native token of Solana, recorded a 9% drop over the last two days. This fall reflects the broader altcoin market correction, with its capitalization, besides stablecoins, diving from around $800 million to $739 billion between September 25 and October 1.

Undeterred by this short-term reversal, Solana’s network activity has spiked notably in the past week, with a 10.4% price gain retained in the last 30 days. SOL maintains its position as the fourth-largest cryptocurrency by market capitalization and the third by total value locked (TVL).

Experts from asset manager VanEck hold a bullish view of SOL, forecasting a potential 120% surge in its current price to $330, with factors like growing institutional adoption to back this prognosis. Moreover, rising market activities and network growth hint at Solana reclaiming $180 soon, adding to the optimistic overview.

However, recent price drops have formed a cloud of uncertainty over SOL, exacerbated by the latest global uprisings. Notably, Solana’s SOL fell 0.52% in the last 24 hours to trade at $156.

Dogecoin Falls 18% Despite Bullish On-chain Signals

Dogecoin’s DOGE crashed 18% from its recent high due to the crypto market slipping into a corrective mode. However, on-chain data suggests the bulls are not done with the meme coin.

Specifically, information from on-chain information provider Santiment shows that Dogecoin network activity just reached a seven-month high, and whale transactions reached a four-month high as well. With retail investors pran

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Author: Adrian Barkley