Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Solana (SOL) whales are at it again, as they are seen to have moved a significant amount of their Solana holdings in the last 24 hours. This comes amidst the bearish sentiment in the crypto market, which has also caused Solana\u2019s price to decline.\u00a0 Solana Whales Move Over $500 Million Worth Of SOL In Several Transactions On-chain data shows that Solana whales have conducted six large transactions in the last 24 hours. The first transaction involved the transfer of over 1.5 million SOL\u00a0tokens ($216 million) to an unknown wallet (HCC…wmr). This wallet then sent 1.13 million SOL\u00a0tokens ($163 million) to four different unknown wallets, with this unknown wallet (Auj…yhS) a majority of the transferred funds (1 million SOL tokens). Related Reading: Ethereum Withdrawals From Coinbase Top $1.2 Billion, What\u2019s Going On? The third transaction involved the transfer of just over 1 million Solana tokens ($144 million) from an unknown wallet (GYj…gG6) to another unknown wallet (4Ax…TAh). This wallet then transferred the tokens to another unknown wallet (3vx…kom). The fifth transaction still involved the unknown wallet (3vx…kom), which moved 1.6 million Solana tokens ($230 million) to another unknown wallet (FnH…Arr). This unknown wallet then transferred the received tokens to a Coinbase-linked wallet. This transaction suggests that the Solana whale may be looking to offload their tokens, which would negatively impact Solana\u2019s price. However, the earlier transactions indicate that the other Solana whales may just be rotating their capital between wallets rather than offloading them on the market.\u00a0 This is also feasible considering that there has been a lot of activity on the Solana network, with traders actively trading due to the ongoing meme coin frenzy. Data from DappRader shows that the transaction volume on the network has continued to soar despite SOL’s declining price.\u00a0 What Next For SOL’s Price Crypto analyst Ali Martinez recently mentioned that Solana is set for a \u201cmajor 53% price move.\u201d He added that the market should keep an eye on the $143 support and $178 resistance levels to gauge sentiment on the crypto token.\u00a0 Crypto analyst Jelle seems to have a bearish sentiment toward SOL. He recently revealed that Solana has failed to repeat a similar pattern from earlier in the year and has now lost the $150 support level. He stated that he wouldn\u2019t be surprised if Solana dropped to as low as $140.\u00a0 Crypto analyst Altcoin Sherpa also revealed his bearish sentiment for SOL, stating that the current celeb meta isn\u2019t \u201chealthy\u201d for the crypto token\u2019s ecosystem. He added that Solana\u2019s chart looks \u201cpretty scary\u201d and that Ethereum will probably continue outperforming it for this next stretch.\u00a0 Related Reading: Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million Altcoin Sherpa also discussed the possibility of Solana dropping to as low as $120 while analyzing its USDT pair. He stated that he wouldn\u2019t invest in Solana until it dropped to $140 and that he might just continue to wait until it fell to around $120. In the long term, the crypto analyst is still bullish on Solana and expects it to rise above $500 this year.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":624825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-624806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n
Solana Whale Shakes Market With $372 Million Transfer, Where Are The Coins Headed?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n