Massive Solana Whale Staking $23M: Is This the End of Meme Coin Hype?

Massive Solana Whale Staking $23M: Is This the Beginning of a New Solana Price Surge?

47,154 SOL, valued at approximately $7.98 million, was taken out of Binance and staked by a large Solana (SOL) whale. This whale has staked 134,482 SOL, worth around $23.58 million, during the last three days.

An increasing tendency among investors who prefer stability over speculative trading is highlighted by this spike in staking activity. Since staking provides steady payouts and long-term value, the decreasing popularity of high-volatility meme coins may be the cause of this change.

Can Staking Offset Selling Pressure Below $120?

In addition to giving investors passive income, staking SOL lowers the amount in circulation, which could stabilize its price. A large-scale unstaking incident, on the other hand, can result in further selling pressure and a potential price drop. A maturing investor mindset that values long-term returns above short-term speculation is reflected in this shift toward staking.

According to technical analysis, SOL is getting close to a crucial support level at about $120, which has traditionally served as both support and resistance. Market analysts predict that SOL will probably remain close to this level and that future token unlocks won’t result in much fluctuation. Strengthening this support zone, the asset may stabilize and rebound after unlocking if SOL sweeps liquidity below $120 but stays above it.

Is Solana Price in Danger? Investors Watch for a Possible Drop Below $100

SOL may drop further down lower support levels and possibly hit new yearly lows below $100 if it is unable to hold above $120 under persistent selling pressure. Investors are keeping a careful eye on these levels to predict SOL’s next price action.

Solana’s price behavior is still at a critical point as staking gains traction and whale activity changes market dynamics. Will selling pressure drive SOL lower, or will staking maintain its stability? Its course will be largely determined in the upcoming weeks.

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