Solana Slammed By Whale Dump—Can It Recover Or Is More Pain Ahead?
Solana's price has decreased to $116, a 12% drop over the past week, driven by large investors, or "whales," selling their holdings. Approximately $46 million worth of SOL tokens were unstaked and moved to exchanges, with four major wallets leading the selling: 'HUJBzd' ($30 million), 'BnwZvG' ($9.47 million), '8rWuQ5' ($3.53 million), and '2UhUo1' ($3 million). This selling pressure contributed to a more than 3% decline in SOL's price within 24 hours. The cryptocurrency market faces uncertainty due to economic policy shifts, particularly US tariffs announced by President Trump, affecting Bitcoin and altcoins like Solana. Despite the bearish trend, some analysts, including Brandon Hong, predict a potential breakout for Solana, urging investors to act quickly. Over the past month, Solana has seen a 15% decline, reflecting broader market trends amid economic instability. The future direction of SOL remains uncertain as it navigates these challenging conditions.
