Solana whales shift focus: Is a new meme token their next move?
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However, weekly news updates about Solana have also shown that the total market cap has been reducing in the last few days, suggesting that the whales might be moving out. The prospect of whales moving out creates ground for speculation that a new crypto asset might be gaining these whales’ interest. The SOL price has also struggled to stay above $200 in the last few days, bouncing off multiple resistances.
Analysts suggest that Solana whales may be shifting funds towards a new meme token as they move away from Solana. This could be due to recent concerns over Solana-based meme coins, which have faced credibility issues in the past few days. A meme coin independent of Solana might be attracting their interest. Let’s dive into how this Solana whale movement has affected the SOL price and why this new presale meme token could be the next big breakout.
Was the SOL price a strong uptrend ?
Before the announcement ofTrump’s imposition of new tariffss, which has caused panic in the market in the last few days, many investors had moved closer to profiting from their Solana investments. Following the latest Solana weekly news, many investors believed the SOL price had risen too fast and might have entered the overbought range.
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