Raydium (RAY) token experienced a surge in price, reaching its highest level since January 2022 and jumping by 365%. Raydium, the largest decentralized exchange network on Solana, has also seen growth in its total value locked (TVL) on its platform, making it the 26th biggest player in the DeFi industry. Raydium has become the second-largest player in terms of daily asset processing volume after Uniswap. The vibrant nature of the Solana ecosystem has contributed to Raydium's performance. The RAY price is highly bullish, with crypto analysts predicting a potential 32% increase. The token's price has been on a strong bull run, rising by over 2,700% from its lowest level in 2023. The path of least resistance for the RAY price is bullish, but a drop and retest of support at $3.2 could occur. If this happens, the price could potentially reach $10, implying a 138% increase. A plunge below $3 would invalidate the bullish view.
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