CandleFocus

200,000 Solana Dump Coming as Whale Behind 24% Dip Moves to Liquidate Another $30M in SOL

Solana (SOL) has been experiencing a bullish trend, but recent activities from a whale investor indicate a potential price crash. The investor has unstaked and sold off 200,000 SOL tokens worth approximately $30 million to capitalize on the recent gains. The same investor has executed similar strategies before, contributing to a 24% crash in Solana's price in the past. This suggests that the current bullish trend may encounter resistance if the whale's liquidation continues. Additionally, Solana is facing selling pressure from the FTX bankruptcy estate, which has unstaked $1 billion worth of SOL and still has an equivalent amount available for sale.

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