Solana Price Analysis: Could a Trump Victory Propel SOL to Outperform Bitcoin and Ethereum?

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Simon Chandler

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Simon Chandler

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

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Last updated: 

October 10, 2024

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The Solana price has suffered along with the rest of the market today, falling by 2% in the past 24 hours as prices fall by 3% on average.

At $139, SOL is now up by a modest 1% in a week and by 3.5% in a week, with the altcoin sitting on an impressive 520% gain in a year.

Yet things could get even better for Solana, with Standard Chartered’s Geoff Kendrick suggesting that the altcoin could rocket by 400% in 2025 if Donald Trump wins next month’s election.

Kendrick explains that the approval of Solana ETFs would be likelier under a Trump administration, yet with SOL having the strongest momentum of any major alt this year, it’s still likely to perform well even if Kamala Harris wins.

Solana Price Analysis: Could a Trump Victory Propel SOL to Outperform Bitcoin and Ethereum?

“The metrics suggest the market is pricing in a very bright growth future for Solana, with an expected increase in throughput of 100 to 400 times,” Kendrick said, writing in a note to investors yesterday.

What’s perhaps most interesting about Kendrick’s analysis is that he expects Solana to outperform Ethereum and Bitcoin in a scenario where Trump wins.

He wrote, “In rough terms from today’s prices under Trump I predict the following multiples by year-end 2025: SOL 5X, ETH 4X, BTC 3X.”

Kendrick doesn’t necessarily predict doom and gloom for the Solana price in the event of Harris presidency, yet he does predict that Bitcoin would be the best performer in such a context.

Indeed, there’s every reason to believe that Solana would continue to perform well, such is its recent momentum.

And while it’s down today, its chart suggests that it’s very close to rebounding.

Its indicators are in decidedly oversold positions, with its relative strength index (purple) beginning to rise towards 50, and potentially higher.

At the same time, SOL’s 30-period moving average (orange) looks like it’s about to hit a bottom in relation to the 200-day average (blue).

All the available signs therefore suggest that a recovery is coming soon, especially when Solana’s resistance (red) and support (green) levels are converging on each other.

And while some holders may fear a Harris presidency, it’s worth remembering that Solana has risen by more than 500% in the past 12 months, under a Biden administration.

New Presale Tokens Could Big Stories in 2025

While Solana does look like it will have a good 2025 regardless of the result of next month’s election, there are numerous other coins with good potential to outperform the market next year.

This includes various presale coins, which in attracting attention and investment prior to listing can often skyrocket once they go on exchanges.

This is the kind of thing we’re seeing with Flockerz (FLOCK), a new ERC-20 token that has raised just over $550,000 in its recently launched sale.

Investors have been flocking to Flockerz (pun intended) because it’s one the of the market’s first vote-to-earn tokens, rewarding holders for participating in governance votes.

Every major decision will be put to its community, with voters receiving greater rewards the more they participate.

Flockerz will also have a staking mechanism, meaning that holders will earn staking rewards in addition to voting rewards.

This could make FLOCK very lucrative as a coin, which helps to explain why demand has already been high.

It will have a max supply of 50 billion FLOCK, with 20% going to its presale, 25% to staking, and another 25% for governance rewards.

Anyone interested in FLOCK can join its presale by going to its official website, where they buy the coin at a price of $0.0057469.

Its sale will have 50 stages in total, with its price rising fractionally with each successive phase.

Traders should buy some cheap while they still can, given that the early signs are all very good for Flockerz.

Join FLOCK Now