Major Solana (SOL) holders, known as whales, have recently orchestrated the transfer of over $500 million worth of SOL in six large transactions within 24 hours.
While 1.6 million SOL tokens (approximately $230 million) were moved to a Coinbase-linked wallet, potentially signalling an intent to sell, a significant majority – 80% – of the transactions involved transfers between unknown wallets, suggesting asset management rather than a mass sell-off.
Despite a recent decline in SOL’s price, the Solana network has seen a surge in activity, fueled by the ongoing meme coin frenzy. This increased activity suggests continued interest in SOL, despite the whale movements.
The ultimate impact of these transactions on SOL’s price remains unclear, as market sentiment remains divided between concerns about selling pressure and optimism about the network’s sustained activity.
Solana Price Prediction
Solana (SOL) is currently trading at $144.36, caught within a descending channel on the 4-hour chart. The immediate pivot point lies at $145.56, acting as the first line of resistance. If SOL can break above this level, it may encounter further resistance at $152.11 and then $157.66.
Conversely, the immediate support level rests at $139.72. A failure to hold this level could lead to a deeper decline towards $132.31 and subsequently $126.77.
The 50-day Exponential Moving Average (EMA) is currently at $151.77, acting as a significant resistance level. SOL’s price remains below this EMA, suggesting a bearish trend in the medium term.
Solana Price Prediction
The Relative Strength Index (RSI) is currently at 40, indicating that SOL is nearing oversold territory. This could potentially trigger a rebound, but the overall trend remains bearish due to the descending channel and the price being below the 50-day EMA.
Conclusion: Overall, Solana’s price prediction remains bearish below 145.50 and vice versa.
Wiener AI: The AI Meme Coin with Bite
Wiener AI (WAI), the new AI-powered meme coin with a playful sausage dog theme, is attracting serious investor interest.
Beyond the Meme: WAI offers advanced AI trading tools, making it more than just a fun novelty. The project has already raised nearly $6 million in its presale, reflecting strong demand.
We are forming an unstoppable Army of Sausages!!
An incredible $5.5M raised in mere days and no sign of slowing down pic.twitter.com/q2R7xqLE02
— WienerAI (@WienerDogAI) June 12, 2024
AI Boom: The rising popularity of AI, especially after Nvidia’s stellar earnings, is expected to fuel demand for WAI even further.
Passive Income Potential: WAI also offers substantial passive income opportunities. With 20% of the total supply allocated for staking rewards, investors can earn an impressive 396% APY.
Expert Endorsement: Prominent crypto analyst Michael Wrubel has identified WAI as one of his top crypto picks for 2024.
Time to Act: The presale price of WAI is currently $0.000719, and it’s set to increase soon. Early investors could see significant gains if WAI achieves market leadership.
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