Solana (SOL) Witnesses 8% Surge as Co-Founder Anatoly Yakovenko Unveils Saga Phone's Future Plans

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Published: December 06, 2023 at 10:21 am Updated: December 06, 2023 at 10:21 am

Edited and fact-checked:
December 06, 2023 at 10:21 am

In Brief

Solana Labs co-founder announced plans to enhance the market presence of the Saga phone, fueling the Solana token growth.

Solana (SOL) Witnesses 8% Surge as Co-Founder Anatoly Yakovenko Unveils Saga Phone's Future Plans

Solana Labs co-founder Anatoly Yakovenko announced plans to enhance the market presence of the Saga phone. The proposed strategy involves introducing new models and implementing initiatives, such as application improvements and store discounts.

The company aims to increase sales from the current 2,200 units to a more substantial user base, ideally between 25,000 to 50,000 units. While the current market acceptance for Solana Labs Saga phones is slow, the company remains interested in further product development.

Solana Token Reaction and Price Outlook

Against the backdrop of these developments, Solana‘s native token, SOL, demonstrated resilience in the market. Following a 7% dip earlier this week, SOL rebounded and is currently showing a 6.5% increase, trading at approximately $64.28.

Crypto analysts express optimism regarding SOL’s performance, projecting an average rate for the token by the end of December at $67.26, with potential fluctuations ranging from a minimum of $60.63 to a maximum of $73.88.

Solana maintains a robust support level at $60, complemented by a persistent buy signal from technical indicators, positioning it for an upward trajectory. However, the token may undergo temporary dips to attract fresh liquidity, supporting a potential breakout.

As Solana addresses challenges associated with its Saga phone and reveals plans for strategic market positioning, the SOL token demonstrates resilience and potential for growth, making it a notable asset to observe in the final month of 2023.

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About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and engagement with scientific writing.

Alisa Davidson