Solana (SOL) continues to stand out as one of the top performers in the current crypto bull run, showcasing its strength and outpacing the broader market despite short-term correction.
However, amidst Solana’s impressive growth, the network faces ongoing challenges with network outages. Over the past two days, the Solana blockchain has encountered significant issues and congestion problems that have long been synonymous with the network.
The congestion issues can largely be attributed to the increasing number of users and their on-chain activity, particularly with the rise of meme coins and transactions on decentralized exchanges (DEXes).
SOL price analysis chart. Source: TradingView
Interestingly, the crypto price prediction platform CoinCodex, leveraging artificial intelligence (AI), foresees bullish sentiments for SOL in the short term. According to the tool, SOL is likely to surpass the $200 mark and trade around $230 by April 11.
SOL price prediction. Source: CoinCodex
By press time, SOL was trading at $174 with weekly losses of over 10%.
Overall, the long-term effects of the congestion on SOL’s price remain to be seen, considering the asset has risen despite the network outages. Additionally, the price trajectory will depend on broader market sentiment.
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