Is It Too Late to Jump Into Solana Whale Activity Suggests Big Moves Ahead

Web 3 Journalist

Tim Hakki

Web 3 Journalist

Tim Hakki

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A journalist and copywriter with a decade’s experience across music, video games, finance and tech.

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Last updated:

September 10, 2024 12:29 EDT

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Crypto whales stockpiled Solana’s native $SOL, according to the $3 billion 24-hour trading volume that helped push the token up 3.7% in the last 24 hours.

Solana is also up a nominal 0.5% from its price this time last week to trade at $135 as of this writing. That means Solana is the best-performing asset among today’s five biggest cryptocurrencies by market capitalization.

The world’s favorite cryptocurrency, the trillion-dollar Bitcoin ($BTC), added 3.3% in the last 24 hours and shed 3.2% over the week to change hands at $57,144.

Ethereum ($ETH) holders faced the slowest movement of the three biggest layer 1s. Ethereum only grew 1.3% overnight, while shedding 6.3% on the week to land on $2,350.

Solana’s small winning streak could soon be over, according to the data.

Solana Price Analysis – Here’s the Latest on SOL

Solana has typically found bottoms at around $125 over the last three months, while July’s $180 resistance level dropped to $160 by late August.

Now, with a rising relative strength index (RSI) of 62, Solana is straying close to the overbought 70 range.

This means any further price rises over the short term could hit a ceiling around $140 before spiraling down to test new support levels.

Whales Circle Solana While Stacking Crypto All-Starz In $1.2 Million Presale

Of all the altcoins, Solana comes closest to challenging Bitcoin and Ethereum’s market dominance through the sheer size and scalability of the service it offers.

However, being so thoroughly established, Solana’s price movements nowadays are a tightly pegged to its rivals.

Those who want less conservative investments diversifying their portfolios should check some of today’s meme coins, which are attracting nine-digit investments with their unique value propositions.

One such project, which is pioneering a unified staking protocol for meme coin fans, is Crypto All-Stars ($STARS) a revolutionary staking platform that brings together the most celebrated meme coins in one place. This week, one whale even snapped up $50,000 $STARS.

Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 1,245%.

To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.

This new meme coin project has gained so much popularity that its presale has already raised almost $1 million since its launch a fortnight ago.

Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.

So, if you are an investor looking to put your money to work, Crypto All-Stars is a better short-to-mid-term choice than Solana. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.

Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all the developments.

Visit the Crypto All-Starz presale Website Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.