Whales Drain Solana’s Lifeblood: $13 Million SOL Floods Exchanges

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Ah, the tale of Solana-a tragic hero whose rise to fame was swift, but whose fall is painfully inevitable. Just six days ago, Solana-once worth a respectable $146-has been trudging within a meager range of $130 to $140, like a tired, wounded beast that’s forgotten how to run. Currently, it limps along at $133, down by a modest 1.94%. Bravo, Solana, bravo. 👏

And who could blame it? With the market grim and the sentiment just as dark, investors-especially those glorious, profit-hungry whales-are fleeing faster than rats off a sinking ship. 🐋💸

The Whale’s Farewell: 100k SOL Dropped Like a Bad Habit

As Solana wallows in its price range, the whale activity on the spot market remains… let’s say, “relatively active”-not unlike the last survivors of a shipwreck, still clinging to any hope. Since November 28th, large whale orders have been surging, a sign that even the biggest players are taking action. Whether buying or selling, they’re making noise. The kind of noise you don’t ignore. 🐋💥

And what a noise it was. EmberCN caught wind of a whale offloading a staggering 100,000 SOL-worth an eye-watering $13.57 million. No, this is not a typo. That’s a lot of SOL, folks. This whale has been on a sell-off spree for the past eight months, unlocking its SOL hoard in April and then transferring a grand total of 615,000 SOL, valued at $107 million, to Binance. 🐋💰

Even after depleting its SOL stockpile like an overzealous shopper on Black Friday, this whale still holds a hefty 733,000 SOL-worth around $99.16 million. It’s the gift that keeps on giving, especially since the whale has earned 357,000 SOL in staking rewards over the last four and a half years. 🐋🎁

When whales start selling off continuously, it’s like a wake-up call. They’ve lost faith in the market, and who can blame them? They want to lock in those profits and run before it all goes south. 🏃💨

The exchanges, too, have felt this shift. CoinGlass reports a positive net flow for Solana’s spot market after four days of negative movement. What’s the take from that? Whales are making their exits in a hurry. 🐋💸

At the time of writing, Solana’s net flow was a respectable $2.66 million, a far cry from the -$23.5 million from the day before. Higher outflows? Yep, that’s a no-brainer. 🤷‍♂️

Is Solana Heading for a Crash and Burn?

So what’s next for Solana? A one-way ticket to a price drop, perhaps? The bears are clearly in control, and the downward momentum grows stronger with every passing day. Solana’s Directional Movement Index (DMI) has fallen into the oversold zone at 16, with its -DI at a foreboding 32. This is the stuff of nightmares for any investor. 🐻😱

When the -DI outstrips the +DI, it’s a death knell for any bullish hopes. The buyers are all but gone, leaving Solana exposed to further losses. If this continues, don’t be surprised if SOL breaches its $130 support and tumbles to $126. 😬

But, wait! There’s a flicker of hope! If the bulls can muster up enough strength to close above $140, then, maybe-just maybe-Solana can claw its way back up. But that’s a big “if.” Should they succeed, it could retest $146 and possibly eye the $178 mark. But right now, that feels about as likely as a snowstorm in the desert. 🏜️❄️

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2025-12-09 23:34