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- Pump.fun -these massive solane deposits have stimulated speculation because stable dominance is stronger in the defiment space.
- Solana price action remained uncertain, with the social volume increasing, but risks liquidation.
Pump.fun continues its inexorable solane deposits (salt), transferring 90,000 salt worth $ 20.5 million to Kraken. Until now, almost two million Sols have been moved to $ 407 million, and $ 264,373 has already been sold for $ 41.64 million.
Total earnings from these transactions increased to $ 2.57 million worth $ 588.6 million, which encourages speculation about the potential impact on the market.
With such great movements, traders question whether Solana will hold their bull trend or elevated volatility of the face.
Salt stablecoin market dominance signals growing power
Despite the current whale activities, the Solan market of Stablecoin reached the highest maximum of $ 11.06 billion, showing strong demand.
USDC remains dominant, making 77.9% of Stablecoin supply, while USDT has a lower presence below two billion dollars.
This rapid expansion reflects the increasing acceptance of the definition on the salt pans, causing the Ethereum and the triple stable leadership. However, it remains uncertain whether this trend will be held or guided by temporary speculative inflows.
Source: Defillma
Sol price Action has key support
Solana has recently bounced off the descending trend of wedge, indicating the potential for further progress. The price increased to $ 270 before withdrawing to $ 234.30, at a time of print, reflecting a profit of 3.27%.
However, resistance of close to $ 250 remains a significant obstacle. The failure to break above it could call the renewed pressure of sales. If customers recover control, Solana could look for another breakthrough. The continuous activity of whales could lead to unpredictable swings.
Funding rate remains stable but risks still exist
The binance financing rate for salt is currently 0.005%, suggesting a neutral attitude in the derivative market. This balance indicates that neither long nor short positions are overly dominant, reducing the immediate liquidation risk.
However, if funding rates are aggressively moved, sudden prices changes could occur. In addition, frequent deposits of pump.fun -a can create imbalances that affect the market.
Source: Santiment
Liquidation data show shorts under pressure
Total liquidations show that $ 2.17 million have been wiped out in short positions, compared to $ 111.28 thousand in long liquidations. This suggests a short squeeze that has contributed to the recent saline bounce, forcing merchants to cover the bear bets.
However, if the bull’s momentum fades, another circle of short sales could appear. Traders should monitor liquidation clusters, as they could provide traces for the next big move of Solana.
Source: COINGLAS
Social volume and dominance recovery
The social dominance of Solana has dropped abruptly after the recent top, but it is now recovering. The social volume is 538 and the domination is 7.51%. This suggests renewed interest among merchants, but enthusiasm is still lower than the previous maximum.
If social activity continues to increase, it could attract more speculative inflows. However, if the interest is stagnant, the momentum can move, put pressure on the solan’s short -term appearance.
Source: Santiment
Realistically or not, here’s the salt of -l’s market limit in BTC’s conditions
Solana bull structure remains intact but continuous transactions with the pump. Fun introduces uncertainty. If the purchase pressure absorbs the sales of whales, a breakthrough over $ 250 could increase the price.
However, if traders grow cautiously and liquidations increase, volatility could be enhanced. Therefore, Solana faces the moment of make-or interruption, with her next move depends on whether customers can overcome the activity of whales in progress.
