Solana Management Proposals Revive $78 Price Target

The Solana cryptocurrency has seen its price target revisited after management proposals aimed at addressing inflation. The $78 price level is back in focus, but only if SOL breaks through resistance levels around $75 and $77.

Currently, the SOL price sits at $74.14, having risen by 1.05% over the last 24 hours. Defi Dev Corp has thrown its support behind proposals that could see the daily SOL burn rate increased from 648 to a range of 7,500-9,000.

The goal is to accelerate Solana's inflation target of 1.5%, which would help reduce the supply of SOL in circulation and potentially stabilize its price.