Whales Are Accumulating Solana Again : Is Now the Perfect Time to Buy ?

Several whales have started accumulating Solana (SOL) in recent days, potentially signalling a bullish trend. It is crucial to grasp the implications of these transactions.

Written by Gaston Cuny

Translated on June 13, 2025 at 17:02 by Sarah

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Institutional Appetite and Mixed Technical Signals

Despite a 10.17% drop in its price in 24 hours, Solana (SOL) has seen intense activity lately. Over 2 million SOL, worth over $323 million, have been transferred between unknown wallets, sparking various speculations about the intentions of key players.

On one hand, DeFi Development Corp (DFDV) secured a $5 billion line of credit to exclusively purchase SOL, reinforcing institutional appetite for cryptocurrency. On the other hand, traders remain cautious, with a decrease in open interest on derivatives.

The outflow from exchanges, totaling $394.75 million, exceeded the inflow of $359.55 million, fueling debates about investors’ intentions: accumulation in cold wallets or tactical exits.

Simultaneously, the technical signals appear favorable, with the emergence of a bullish “cup and handle” pattern. However, the 13.14% decrease in open interest for futures contracts indicates traders shifting towards short-term speculation.

Between Caution and Upside Potential for Solana

While the positive signals of accumulation on the blockchain and bullish technical patterns are promising, traders are still hesitant to fully commit. This adds an extra layer of caution to the short-term analysis of Solana.

Maintaining support at $141 will be crucial to confirm the upside potential, with targets at $152, $159, and $183 based on Fibonacci levels. However, a breakdown below this level would expose Solana to further losses.

In conclusion, Solana presents contradictory signals, with strong institutional appetite and favorable technical outlook on one side, and long-term investor caution on the other. Investors will need to closely monitor the movements of whales and economic indicators to make informed decisions.

Buy Solana (SOL) on Bitget !

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Gaston Cuny

Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.

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