In recent times, a resurgence of inactive significant investors, commonly known as smart whales, has been observed in the Solana [SOL] ecosystem, hinting at a potential uptrend. A whale, dormant for two months, withdrew 61,319 SOL amounting to $12.4M from both Binance and OKX when SOL was trading around $202.53 per token.
This particular whale had previously executed two lucrative trades between December 2023 and November 2024, yielding profits of $8.47M with a 38.9% return rate and a flawless success record. Emulating the success pattern of this whale, making a purchase at present might be a prudent move as a price surge could be on the horizon.
Another prominent whale, operating under the alias “GJwCU,” resurfaced after a year and withdrew 30,901 SOL valued at $6.24M from Binance. This whale had previously garnered significant profits of $8.15M, achieving a 21.9% gain through a single trade within the same time frame.
A fresh wallet recently retrieved 30,900 SOL valued at $6.27M from Binance for staking purposes, indicating the whales’ interest in maintaining SOL’s price stability in the vicinity of $200. This strategic move could potentially support or elevate SOL’s value by minimizing the circulating token supply, thereby showcasing a long-term commitment to the asset.
The increased whale activity often acts as a bullish signal, potentially driving up SOL’s market value by amplifying demand and underscoring investor confidence in the future prospects of Solana.
Price Trends and Future Speculations
An examination of Solana’s price movements, a coin preferred by traders due to its high volatility, further propels expectations of an uptick. Previously, a notable accumulation of Open Interest (OI) around the $190 mark hinted at crucial support from buyers, thwarting potential price declines.
The previously resilient $200 level has transformed into a possible support base, with SOL maintaining its position slightly above this threshold.
With OI volumes hitting approximately $40M, a sustained position above $200 could propel SOL towards higher price points, solidifying the whales’ backing of this critical level.
However, dipping under this pivotal point might trigger a retesting of the $190 support line. The Relative Strength Index (RSI) hovering at 43.77 implies a mild bearish pattern, while the On-Balance Volume (OBV) recorded at 69.05M indicates a continual interest in SOL.
A consolidation above $199 would fortify the bullish scenario, though traders should remain cautious of potential false signals.
A failure to sustain levels above $199 could indicate a dwindling market momentum, possibly leading to a decline in SOL’s valuation.
Resurgence of Solana’s AI Tokens?
Whale activities surrounding AI tokens like arc (ARC) and ai16z (AI16Z) have reignited interest in the Solana ecosystem. Notably, a whale, identified as “8u6u3,” invested around $3.86 million in ARC and $3.56 million in ai16z tokens.
This strategic move followed the withdrawal of 38,139 SOL from Coinbase, indicating a deliberate approach towards these investments.
In response to these acquisitions, ARC saw an impressive 81% surge while ai16z recorded a 35% increase, highlighting a robust market reaction.
This surge could indicate a rejuvenation of interest in Solana’s AI tokens. However, the sustainability of this trend remains uncertain.
Traders and investors should closely monitor whether this momentum persists or if it was merely a short-lived spike instigated by the whales’ activities.