Solana Active Addresses Hit 17M ATH Ahead of PumpFun ICO As Price Targets $216
The post Solana Active Addresses Hit 17M ATH Ahead of PumpFun ICO As Price Targets $216 appeared on BitcoinEthereumNews.com. Solana price might be headed for a volatile weekend because of the upcoming token sale on the PumpFun meme coin launchpad. This upcoming ICO event has led to the number of daily active addresses on the network increasing to the highest level in history of 17 million, indicating growing demand. As of writing, SOL traded at $167 with a 6% increase in 24 hours. Solana Price Braces for Weekend Volatility as 30% Rally Looms Solana might face significant price changes this weekend because of the token sale on PumpFun. As CoinGape reported, PumpFun will run a $4 billion ICO on July 12 as it seeks to expand meme coin activity on its platform, which will effectively spill over to the Solana blockchain. This token sale is happening at a time when the broader crypto market is rallying, and this is fuelling a bullish sentiment towards the Solana price. At the same time, a rounding bottom has been forming, and this shows that more gains might be on the way, as the decline that SOL has seen in recent months likely ends. One of the signs confirming this bullish outlook is that SOL is testing resistance at $165. SOL price has been close to this resistance level two times now, but it needs to make a strong close above it to confirm that bullish traders have the upper hand. Once this resistance level is overcome and Solana starts to surge, the price could extend its rally with an over 30% increase, which will take the price to not only $200, but to $216, the highest level since early February 2025. SOL/USDT: 1-day Chart (Source: TradingView) However, to achieve this bullish Solana price prediction, the token will have to rise past resistance at the 200-day SMA of $164. History shows that whenever…
The post Solana Active Addresses Hit 17M ATH Ahead of PumpFun ICO As Price Targets $216 appeared on BitcoinEthereumNews.com.
Solana price might be headed for a volatile weekend because of the upcoming token sale on the PumpFun meme coin launchpad. This upcoming ICO event has led to the number of daily active addresses on the network increasing to the highest level in history of 17 million, indicating growing demand. As of writing, SOL traded at $167 with a 6% increase in 24 hours. Solana Price Braces for Weekend Volatility as 30% Rally Looms Solana might face significant price changes this weekend because of the token sale on PumpFun. As CoinGape reported, PumpFun will run a $4 billion ICO on July 12 as it seeks to expand meme coin activity on its platform, which will effectively spill over to the Solana blockchain. This token sale is happening at a time when the broader crypto market is rallying, and this is fuelling a bullish sentiment towards the Solana price. At the same time, a rounding bottom has been forming, and this shows that more gains might be on the way, as the decline that SOL has seen in recent months likely ends. One of the signs confirming this bullish outlook is that SOL is testing resistance at $165. SOL price has been close to this resistance level two times now, but it needs to make a strong close above it to confirm that bullish traders have the upper hand. Once this resistance level is overcome and Solana starts to surge, the price could extend its rally with an over 30% increase, which will take the price to not only $200, but to $216, the highest level since early February 2025. SOL/USDT: 1-day Chart (Source: TradingView) However, to achieve this bullish Solana price prediction, the token will have to rise past resistance at the 200-day SMA of $164. History shows that whenever…
What's Your Reaction?
