As whales accumulate 1.7 million USD in SOL, will Solana's price recover?

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Solana's price is experiencing a recovery wave as whales accumulate, but analysts believe that in certain cases, its price may continue to rise further.

Under pressure in the cryptocurrency market, Solana's price has dropped to a one-month low, only showing signs of recovery today. More importantly, SOL is one of the first cryptocurrencies to recover from the lows, demonstrating positive interest from investors. Here is the process of its recovery.

Solana's price drops, whales take the opportunity to profit

Data from Coinshare confirms that whale activity has increased for several consecutive days. Last week, Solana's inflow reached 1.7 million USD, indicating that investor sentiment is shifting towards 'buying the dip.' This week is no different, as trading activity for the token remains high. Interestingly, whale participation has significantly increased this week, as investors attempt to buy before the market enters a bull run in mid-2025.

SOL's price set a historical high of 263.83 USD in November, and investor enthusiasm for further gains remains strong. Therefore, when Solana's price deviated from that price by 29% due to the cryptocurrency market crash, whales seized the opportunity. During this period, Solana's performance fell to a one-month low of 177.21 USD, but analysts say this is a retest, not a decline.

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