Major Solana (SOL) holders, known as whales, recently orchestrated the transfer of over $500 million worth of SOL in six large transactions within 24 hours. While 1.6 million SOL tokens, approximately $230 million, were moved to a Coinbase-linked wallet, potentially signaling an intent to sell, a significant majority of the transactions involved transfers between unknown wallets, suggesting asset management rather than a mass sell-off. Despite a recent decline in SOL’s price, the Solana network has seen a surge in activity fueled by the ongoing meme coin frenzy, indicating continued interest in SOL despite the whale movements. The ultimate impact of these transactions on SOL’s price remains unclear, with market sentiment divided between concerns about selling pressure and optimism about the network’s sustained activity.
Solana (SOL) is currently trading at $144.36, caught within a descending channel on the 4-hour chart. The immediate pivot point lies at $145.56, acting as the first line of resistance. If SOL can break above this level, it may encounter further resistance at $152.11 and then $157.66. Conversely, the immediate support level rests at $139.72, with a potential deeper decline towards $132.31 and subsequently $126.77 if this level fails to hold. The 50-day Exponential Moving Average (EMA) is currently at $151.77, acting as a significant resistance level, with SOL’s price remaining below it, suggesting a bearish trend in the medium term. The Relative Strength Index (RSI) is currently at 40, indicating that SOL is nearing oversold territory, potentially triggering a rebound, although the overall trend remains bearish due to the descending channel and the price being below the 50-day EMA. In conclusion, Solana’s price prediction remains bearish below $145.50 and vice versa.
Wiener AI (WAI), the new AI-powered meme coin with a playful sausage dog theme, is attracting serious investor interest. Beyond the meme, WAI offers advanced AI trading tools, making it more than just a fun novelty. The project has already raised nearly $6 million in its presale, reflecting strong demand. The rising popularity of AI, especially after Nvidia’s stellar earnings, is expected to fuel demand for WAI further. WAI also offers substantial passive income opportunities, with 20% of the total supply allocated for staking rewards, allowing investors to earn an impressive 396% APY. Prominent crypto analyst Michael Wrubel has identified WAI as one of his top crypto picks for 2024, endorsing the project. The presale price of WAI is currently $0.000719 and is set to increase soon, offering potential significant gains for early investors if WAI achieves market leadership. Investors can purchase Wiener AI through the provided link, but it’s important to note that crypto is a high-risk asset class, and this article is for informational purposes only and does not constitute investment advice, as there is a possibility of losing all capital.
