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Hedge Fund Founder Says SOL to Hit $200 in 11 Days, BTC to New Highs

Cheung described the strength of SOL in its current rally as "incredible," insisting that the token's surge is the best trade of this cycle.


Bitcoin (BTC) and Solana (SOL) are poised to hit new highs soon, according to Daniel Cheung, the co-founder of crypto hedge fund Syncracy Capital.

Cheung said in recent tweets that SOL would reclaim $200 by month’s end, while BTC would record new highs as the market ventures into bullish territory.

SOL to Hit $200 by Month End

The Syncracy Capital founder described the strength of SOL in its current rally as “incredible,” insisting that the token’s surge is the best trade of this cycle. He expressed his confidence in the cryptocurrency’s ability to reclaim $200 in the next 11 days.

Per Cheung’s analysis, Solana’s rally is a complete reversal of the token’s monthly time frame and an indication that the asset is ready for new all-time highs (ATH). While the hedge fund founder did not predict when SOL could hit a new ATH, he urged market participants to remain patient as such a move is inevitable.

Solana’s potential surge could come from notable developments on the network, including the upcoming launch of the Firedancer upgrade. Firedancer, a new third-party validator client software developed by web3 infrastructure developer Jump Crypto, aims to improve Solana’s efficiency and transaction processing. Cheung noted that Jump Crypto had successfully deployed Frankendancer on the testnet, paving the way for Firedancer.

At the time of writing, SOL was worth $178, rallying 3.7% in the past 24 hours and 22% in the past week. While the crypto market is prone to sudden spikes and declines, it remains to be seen when Cheung’s prediction comes true. 

Bitcoin in Bullish Trajectory

With BTC in a bullish trajectory, the asset is currently worth $67,000, signifying a 7% increase in the past week. Cheung has outlined what to expect in the next few months as the leading digital asset makes its way to new all-time highs.

According to the hedge fund founder’s tweet, many new and old altcoins, including SOL, Akash Network (AKT), and Maker (MKR), would record new ATHs as the dispersion of returns continues in the market. 

In addition, Cheung believes capital flowing into the market will consolidate into blue-chip memecoins and those with “amazing narratives” like dogwifhat, Trump, and Boden. As a result, trading “long tail memecoins” would become difficult to trade due to their oversupply.

Cynthia Ezirim

Cynthia Ezirim is a news reporter at Cointab who is passionate about Bitcoin, non-fungible tokens, and decentralized technology. She joined the crypto space in late 2022.