Solana (SOL) has seen a 4% increase in the last 24 hours, continuing its bullish trend. However, a factor to watch is the heightened excitement on social media, which may influence market direction.
Data from Santiment highlights a surge in positive sentiment related to SOL on social media, reaching a nine-month high. This is measured by the "Positive Vs. Negative Sentiment" indicator, showing over 5.6 times more bullish than bearish comments.
The current market optimism around Solana is notable, but excess positivity can sometimes lead to market tops. Historically, when traders become very sure of a market direction, the opposite can occur, potentially leading to a price peak.
Despite potential investor FOMO, Solana has continued its upward trend, now trading above $153. However, maintaining high levels of social media hype might prompt a top soon, based on historical patterns.
