Solana Price Prediction as Viral Game Makes Up 15% of All Transactions on Blockchain – Time to Buy SOL?
The Solana price has jumped by nearly 1% in the past hour, with its move to $22.37 also representing a 0.3% gain in the past 24 hours.
SOL's movements come as the Solana blockchain enjoys heavy traffic coming from new space exploration video game, SAGE Labs, which has seen transactions rise to one million per day.
Such activity has helped reinforce the bull case for Solana, with SOL now up by 24% in the last 30 months and by 124% since the beginning of the year.
And with SAGE Labs likely to raise demand for SOL, the altcoin could see more gains in the very near future.
Despite the entire market suffering a comedown earlier this week, SOL's chart and indicators continue to look promising, suggesting that the token could rebound back up quickly.
Interestingly, SOL's 30-day exponential moving average (yellow) has very recently risen above its 200-day average (blue), a move which can signal the beginning of a breakout rally.
Also promising is the coin's relative strength index (purple), which is rising again towards 60 after dipping earlier in the week, another change which indicates rising buying pressure.
Rounding out this set of positive indicators is SOL's support level (green), which has been rising strongly in the past few weeks, providing the coin with an increasingly high base from which to launch new rallies.
The technical picture therefore looks very encouraging for Solana, yet the coin also boasts good fundamental reasons as to why it could begin rising vigorously very soon.
As noted above, last month's launch of new space-themed game SAGE Labs has resulted in transactions surging on Solana's blockchain, with the game accounting for as much as 15% of all Solana transactions.
As the tweet above reports, transactions rose as
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