Is It Too Late to Invest in Solana? Increased Whale Activity Indicates Potential Significant Changes Ahead

According to the $3 billion trading volume over the past 24 hours, crypto whales have accumulated Solana’s native $SOL, contributing to a 3.7% increase in the token’s value during this period.

Solana has also experienced a slight increase of 0.5% compared to its price from the previous week, currently trading at $135. This positions Solana as the top-performing asset among the five largest cryptocurrencies by market capitalization today.

The leading cryptocurrency, Bitcoin ($BTC), which has a market valuation of a trillion dollars, rose by 3.3% in the last 24 hours but declined by 3.2% over the week, now trading at $57,144.

Ethereum ($ETH) holders have seen the least movement among the three largest layer 1 blockchains. Ethereum increased by only 1.3% overnight, while it fell by 6.3% over the week, settling at $2,350.

Solana’s recent upward trend may soon come to an end, based on the available data.

Solana Price Analysis – Here’s the Latest on SOL

Over the past three months, Solana has generally found support around $125, while the resistance level from July at $180 has decreased to $160 by the end of August.

Source: TradingView

Currently, with a rising relative strength index (RSI) of 62, Solana is approaching the overbought threshold of 70.

This suggests that any further price increases in the near term could encounter resistance around $140 before potentially declining to test new support levels.

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

Among altcoins, Solana is the closest to competing with Bitcoin and Ethereum for market dominance due to the extensive size and scalability of its offerings.

However, given its established position, Solana’s price fluctuations are now closely linked to those of its competitors.

Investors seeking less conventional options to diversify their portfolios might consider some of today’s meme coins, which are drawing nine-digit investments thanks to their distinctive value propositions.

One notable project is Crypto All-Stars ($STARS), which is introducing a unified staking protocol for meme coin enthusiasts. This innovative staking platform consolidates the most popular meme coins into one location. Recently, a whale acquired $50,000 worth of $STARS.

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

To facilitate this, the team has designated 20% of the tokens for the presale; an additional 25% is allocated for presale staking, 20% for marketing, 10% for CEX/DEX listings, and the remaining 25% for the MemeVault Ecosystem.

This new meme coin initiative has gained significant traction, with its presale raising nearly $1 million since its launch two weeks ago.

After making a purchase, investors can start staking for rewards and claim their tokens once the presale concludes.

Therefore, for investors looking to make their funds work, Crypto All-Stars presents a more favorable short-to-mid-term option compared to Solana. Visit the website to purchase $STARS using ETH, USDT, BNB, or even via card.

Stay informed on all developments by following them on social media – X (Twitter) | Telegram.

Visit the Crypto All-Starz presale Website Here

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