Solana's Whale Accumulation Drives 10% Price Surge

Solana (SOL) is currently experiencing aggressive accumulation by large investors, or "whales," which suggests the possibility of a significant price movement. The number of addresses holding 10,000 or more SOL increased from 4,943 on April 11, 2025, to 5,019 by April 18, 2025. During this period, SOL’s price rose from $121.44 to $134.02, indicating growing investor confidence.

This accumulation is particularly notable given that the decentralized finance (DeFi) token has been trading within a consolidation range of $100 to $150 over the past month. Historically, whale purchases have often preceded strong rallies in the crypto market. When large holders begin accumulating aggressively, it typically signals expectations of bullish developments or favorable market conditions. Their actions can also influence broader investor sentiment and liquidity, adding momentum to the asset.

Large investors have shown renewed confidence in SOL, even as the asset has experienced high volatility in line with broader market sentiment. While this whale activity doesn’t guarantee a breakout, just days after the latest data was recorded, Solana is posting modest gains in line with Bitcoin’s (BTC) upward trajectory.

At the time of writing, Solana was trading at $139.72, up 1.6% over the past 24 hours and nearly 4% over the past week. In the short term, Solana appears well-positioned to continue its rally, as it is trading above its 50-day simple moving average (SMA).

For the long-term outlook, cryptocurrency trading expert Ted Pillows noted in an X post on April 20 that SOL seems primed for a record high in Q3 2025. According to the expert, SOL has formed lower lows, which could lead to capitulation and a potential double bottom, similar to Q4 2022. Currently consolidating below the key $200 to $220 resistance zone, the analyst noted that the digital asset appears to be building strength for a breakout. Price action suggests a potential move toward $160 to $180 by May, with the possibility of a new all-time high in Q3 2025 if the fractal continues to unfold.