Solana price demonstrated strong resilience during Monday’s market correction, bouncing 0.2% to reach $131.5. The continued bullish momentum is driven by growing anticipation for the upcoming Breakpoint Conference and the potential meme coin rally, fueled by speculation of a possible U.S. Federal Reserve rate cut.
Will Solana Price Break the $1,000 Mark?
The Solana coin witnessed a bullish turnaround in September’s second week, uplifting its price from $120 to $139— a 16.5% increase. The recovery followed the market anticipation of the upcoming Breakpoint Conference 2024 in Singapore, scheduled for the 20th and 21st of this month. This event will bring together key developers, industry leaders, and investors to discuss Solana’s ecosystem and innovations in blockchain technology.
This upswing also defied the recent unstacking of over $1 billion of SOL from the bankrupt FTX/Alameda-linked wallet address. Typically, this move would fuel bearish sentiment in the market, but the Sol
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