Solana Whale Bets $26M on Recovery – Is the Market About to Go Boom or Bust?

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Solana whale opens a $26M long while the price plummets to $175, and ETFs roll in $44.4M despite the chaos!

Oh, Solana’s price took a rather dramatic nosedive-about 6% to be precise-right in the middle of a broad market meltdown. It’s now dangling precariously around $175. But wait! Enter the whale (cue the dramatic music)-a Solana enthusiast who just went all-in with a $26 million long position. Yes, a long! The nerve! Talk about putting your money where your mouth is-someone’s feeling really confident about Solana’s future. 🐋💸

Whale Makes a $26M Bet on the Way Up While Everyone Else Panics

According to Lookonchain (because, apparently, the blockchain is always looking), a Solana whale dropped a 20x leveraged bet worth $26 million right when Solana was in the process of giving investors a heart attack. If you’re wondering, this all happened when other traders were scrambling to minimize risk, hugging their cash and hoping for the best. This, however, was not the case for our whale friend, who saw an opportunity in the chaos. 🧐

Whale 0x8d0E deposited 10M into and opened a 20x long on 140,366 ($26.14M) ~2 hours ago.

– Lookonchain (@lookonchain)

The timing and sheer size of this bet scream one thing: “I believe in this coin!” It’s not for the faint of heart, as such a trade ramps up exposure and risk. But apparently, the whale has confidence in a speedy recovery. Oh, and the whole thing went down on Hyperliquid-a platform designed for big players who like to go big or go home. 🏠💥

This isn’t just one rogue whale swimming in its own big pond, either. Broad on-chain data shows that whale activity is spiking. It seems the big fish are gobbling up the low prices, while the little minnows are running for cover. Guess who’s been winning this game? Not the minnows. 🐟👋

Technical Indicators and Support Levels: Will Solana Stay Afloat?

Now, let’s talk charts-because who doesn’t love a good head-and-shoulders pattern? Solana’s daily chart currently resembles a fancy one, with a neckline sitting near $172. If it falls below this, well, you might want to start thinking about how low things could go-perhaps $156. Don’t get too comfy. 😬

The next support level is chilling around $130.50-thanks, August accumulation! If Solana can hold above $172, though, the bulls might take back the reins. This could set the stage for a cheeky little bounce to $209. Just imagine all those short liquidations fueling the recovery. The dream! 🌈

Still, the MACD says the momentum is, erm, bearish at the moment. Apparently, sellers are holding the reins. But hey, history has shown that these kinds of setups sometimes end in reversals-when volume drops, the buying comes back like a loyal dog returning home. 🐕

Institutional Inflows: The Big Boys Are Still Interested in Solana

Meanwhile, the little guys (retail traders, you know who you are) might be a bit cautious, but institutional interest in Solana is anything but shy. In fact, over the past four days, Solana’s spot ETFs saw $44.4 million in inflows. That’s right, $44.4 million. This pushed the total assets across Solana ETFs to over $500 million. Not exactly pocket change, huh?

And this influx of cash didn’t even flinch when the market was diving. It’s almost as if the big players are like, “What market downturn? We’re buying up the dip, baby!” The timing? Oh, it’s aligned nicely with the whale’s long position. You know, just in case there was any doubt they’re on the same team. 🏢💰

Put it all together-whale bets, ETF inflows, and the ever-present hope for a recovery-and you’ve got yourself a formula for steady demand. As long as Solana stays above that critical $172 mark, we might just see a surge in the coming weeks. But for now, it’s all about surviving the storm. 🌀

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2025-11-04 07:48