Solana has been able to remain above the key $110 price level even as big investors offload millions worth of tokens. The cryptocurrency is now trading at $114
Solana (SOL) has managed to stay above the key $110 price level despite large investors dumping millions worth of tokens. The cryptocurrency is currently trading at $114, registering a daily increase of 7.6% amidst a broad-based fear in the altcoin market.
Several key Solana holders have lost faith in the token’s near-term prospects. Blockchain analytics indicate that a whale (“4W1Ree”) unstaked 159,028 SOL tokens valued at $16.5 million. The investor has already sold 60,000 of them for $6.13 million at an average price of $102.
Another significant holder named “5cPair” offloaded close to 90,000 SOL tokens amounting to around $9.7 million, receiving an average of $108 per token. OnChainLens blockchain data also revealed that three interrelated wallets unstaked 168,498 SOL worth $17.86 million after being on the books for two months, taking an $11.38 million hit on their investment.
The offloading is not just limited to individual traders. According to recent transactions, Pump.Fun platform transferred 84,350 SOL tokens (valued at $9.3 million) to Kraken exchange. Since January 2025, the platform has already offloaded a whopping 1.72 million SOL tokens worth $310 million to exchanges. Pump.Fun currently has 3.24 million SOL tokens remaining, worth around $360 million at today’s prices.
Despite the intense selling, some analysts are optimistic regarding Solana’s price trend. The cryptocurrency adheres to a growing falling-channel pattern on day charts. The recent decline reached a low of $95.16 on April 7, but buyers swiftly intervened to restore the price above $100.
Today’s Relative Strength Index (RSI) is now on the cusp of oversold levels, which may indicate a possible bounce. Some analysts are saying Solana just bounced off of a multi-year support trendline that set off a 1,000% bounce when tested in Q3 2023.
Solana will need to hold above $95 and break above $120 to
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