Whales on the Solana network have caught the attention of the crypto community with significant meme coin purchases. These acquisitions come as Solana’s price declines, and traders monitor a key support level.
Whales Invest $18.57 Million in Meme Coins
Recent whale activity on the Solana network revealed meme coin purchases worth $18.57 million. A wallet known as “DWhUa” acquired tokens such as $WIF, $POPCAT, $FWOG, and $michi within 14 hours. These tokens were then transferred to a new wallet, “D2Noa,” suggesting a strategic trading approach during Solana’s price dip.
In 2025, meme coins remain a focus despite fluctuating interest. While the segment was widely celebrated in 2024, the market now faces saturation due to the rise of “fair launch” platforms. Established meme coins like $WIF and $POPCAT, previously boasting billion-dollar market caps, continue to hold attention. Newer tokens such as $michi and $FWOG, with maximum market caps of $500 million, remain appealing to traders even as market dynamics shift.
Solana’s Price Action and Critical Support
Solana’s price recently dropped 1.72% to $198.76, signaling a continued downtrend. A descending triangle pattern has emerged, combining lower highs and horizontal support in the $196–200 range. This zone has been repeatedly tested and is crucial for short-term investors.
The current selling pressure, marked by consecutive red candles, confirms bearish sentiment in the market. Although Solana briefly broke above the descending trendline, it failed to maintain momentum, bringing the price back to its critical support zone.
Trading volume has remained stable, indicating consistent market participation. However, if the price breaks below the $196 level, Solana could drop further, potentially targeting $160, as indicated by the lower red dashed line.
Key Insights and Market Sentiment
Meme coins on Solana continue to attract attention despite waning market interest in this segment. Recent whale purchases reflect confidence in selected tokens, while Solana’s price movements highlight a consolidation phase, emphasizing the importance of the $196–200 support zone.
Investors should closely monitor this critical area, as a breakdown could signal further downside risks. Conversely, previous failed breakout attempts indicate the potential for short-term recovery. Additionally, continued meme coin accumulation could renew interest in the Solana ecosystem and encourage traders to re-engage with the market.
#popcat , #WIF , #memecoin🚀🚀🚀 , #CryptoNewss , #MemeCommunity
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“