Solana's Wallet Numbers Surge 11.04 Million, Price Rallies 22%

Solana has experienced a significant surge in network activity, with the number of wallets holding 0.1 SOL or more reaching 11.04 million in the past two weeks. This rapid increase in smallholder wallets indicates a growing wave of adoption and network participation, particularly as interest in altcoins intensifies. The rise in the number of wallets holding 0.1 SOL or more suggests that more users are engaging with the Solana network, which could be a positive sign for the platform's long-term growth and stability.

According to the analyst, the surge in wallet numbers holding 0.1 SOL or more is a critical indicator of growing retail interest and a widening user base. This on-chain data reinforces the perspective that Solana is experiencing significant user engagement, which is essential for long-term strength. The combination of technical momentum and on-chain engagement provides a strong foundation for the next leg higher in Solana's price movement.

Solana's price has rallied more than 22% since last Thursday, riding the wave of renewed bullish momentum across the broader crypto market. The price surged to a local high of $181 before encountering resistance, where it now consolidates just below that mark, searching for support to fuel the next leg higher. While price action cools at a pivotal level, on-chain data shows significant growth in Solana’s user base, which could offer the foundation for a strong breakout in the coming sessions.

Despite the broader macroeconomic environment remaining fragile, with persistent fears of a global slowdown and continued uncertainty around inflation and interest rate policy, the crypto market is staging a powerful recovery. Solana is among the top performers in this rally, which may be more than just a short-term bounce—it could mark the early stages of a larger bullish phase with significant upside potential. Investor sentiment is improving, and so is user engagement across key ecosystems.

Solana is now facing a crucial test as it consolidates just below the $181 resistance zone. After a sharp 22% rally over the past week, bulls must defend current levels to validate the uptrend and sustain momentum. Holding above the $170–$175 support range would confirm strength and could pave the way for a renewed push toward the $200 level. However, the path forward isn’t without risk, and the broader macroeconomic environment remains fragile.

If bulls can maintain control at current levels and macro conditions don’t worsen, Solana could be poised for a major move. The combination of technical momentum and on-chain engagement provides a strong foundation for the next leg higher. All eyes are now on whether the $181 resistance breaks—or if Solana needs more time to build strength before the next phase of the rally begins.