{"id":374738,"date":"2025-02-25T05:20:14","date_gmt":"2025-02-24T23:50:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/solana-price-could-drop-to-109-as-whale-move-127m-sol-crypto-news\/"},"modified":"2025-02-25T05:24:08","modified_gmt":"2025-02-24T23:54:08","slug":"solana-price-could-drop-to-109-as-whale-move-127m-sol-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-price-could-drop-to-109-as-whale-move-127m-sol-crypto-news\/","title":{"rendered":"Solana Price Could Drop To $109 As Whale Move $127M SOL – Crypto News"},"content":{"rendered":"

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While Solana price spirals downward, whales are moving sizable amounts of SOL, sparking fears of a selloff. On the flip side, analysts say the move could be a trigger for an accumulation spree amid prolonged bearish sentiments.\u00a0<\/span><\/p>\n

Whale Moves $127 Million Worth Of Sol TO Unknown Wallet<\/h2>\n

A Solana (SOL) whale has transferred<\/a> 846,613 SOL to an unknown wallet in a single transaction amid falling asset prices. With Solana price hovering around the $150 mark, the transferred assets are valued at a hefty $127 million, spiking SOL\u2019s daily trading volumes.<\/span><\/p>\n

While the sizable transfer appears to have gone under the radar, investors say the move could have far-reaching consequences for the beleaguered asset.<\/span><\/p>\n

A majority of traders are viewing the $127 million transfer as preliminary moves for a sell-off given prevailing sentiments. Only a handful of investors see the transfer as an accumulation play ahead of a market breakout.<\/span><\/p>\n

Solana Price Continues To Fall<\/h2>\n

Onchain data indicates SOL<\/a> has lost 11% in under 24 hours to settle at the $152 mark. Since the asset reached its peak of $294 at the start of the year, it has shed 49% of its value in less than a month.\u00a0<\/span><\/p>\n

SOL\u2019s market capitalization of $75.4 billion manages to keep it among the top cryptocurrencies<\/a> by valuation. However, underlying metrics remain grim as it plays second fiddle to Ethereum in DEX weekly volumes.<\/span><\/p>\n

Solana network fees and memecoin activity have also taken a hit in recent weeks while the number of active Solana users fell to its lowest level in five months.\u00a0<\/span><\/p>\n

SOL Expected To Slip Even Further<\/h2>\n

Amid the unsavory metrics for SOL, chances for a break out remain unlikely for the asset. For starters, the Solana price descent has seen it fall below the 50-day and 200-day moving averages, setting the stage for a bearish death cross pattern.<\/span><\/p>\n

MACD and the Relative Strength Index (RSI) are painting a depressing picture for SOL with indicators tipping prices to reach $109. Optimists are pining for the Securities and Exchange Commission (SEC) to approve a spot Solana exchange-traded fund<\/a> (ETF) expected to reverse the bearish trend.<\/span><\/p>\n

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