Solana Whale Activity Drives 4.34% Price Surge

Two significant transactions totaling 1.38 million SOL, valued at over $235 million, were observed moving between unknown wallets. This substantial activity by a whale suggests a strategic repositioning by large holders, which could indicate either a bullish signal or a potential sell-off ahead.

This activity coincided with Solana’s bullish price movement, which showed signs of breaking out from an ascending triangle pattern. At the time of reporting, SOL was trading at $177.28, up 4.34% in the last 24 hours, adding weight to the bullish narrative. The timing and size of these transfers suggest growing institutional confidence, potentially laying the foundation for a sustained rally if buyer support remains consistent.

Solana’s spot market flows turned positive, with a $207.26 million inflow against $177.50 million in outflows, yielding a net gain of $29.76 million. This inflow bias suggests that participants were accumulating SOL rather than offloading it. Historically, such inflow dominance has aligned with price appreciation, especially when coupled with low sell-side pressure. Therefore, this current trend could support SOL’s push beyond the $177 resistance.

Adding to this, the Binance Funding Rate flipped to 0.0076%, indicating that traders are now paying a premium to stay in longs. This shift followed weeks of mixed sentiment and reinforces the view that bullish momentum is gaining strength. Positive Funding Rates typically accompany upward trends, especially when sustained across several sessions.

Despite the price surge, SOL’s Social Dominance dropped to 2.69%, with Social Volume at just 133 mentions. This decline suggests that the broader market isn’t overly hyped, which can be a positive signal. Excessive social noise often precedes corrections. Therefore, a moderate presence in discussions could mean the move is driven more by conviction than speculation. If sentiment remains grounded while price structure and inflows stay bullish, SOL could continue its run with reduced volatility risk.

Technically, SOL is breaking out of an ascending triangle, a bullish continuation pattern that often precedes rallies. The MACD indicator also confirms momentum alignment, with the signal and MACD lines converging upward. This setup suggests a possible run toward the projected $180–$185 range if the breakout sustains. However, a failure to hold above $176 could invite short-term pressure.

According to data, Liquidation Heatmaps revealed a cluster of short liquidations triggered below $177. As SOL continues upward, fewer liquidation clusters remain between $178 and $185. Therefore, if the price advances past $178, the lack of short pressure could accelerate bullish momentum. This environment provides favorable conditions for a smooth push toward $180.

All told, Solana’s rally appears backed by more than just price action. Whale activity exceeding $235 million, combined with a $29.76 million Net Inflow and rising Funding Rates, reflects robust investor confidence. The technical breakout above the ascending triangle, coupled with low social hype, points to a healthier and potentially more sustainable rally.