SOL Price: Boom or Bust?

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Oh my, oh me! 🤯 Solana (SOL) has gone and done it again! The price has rallied a whopping 3 percent in the past 24 hours, and it’s now trading at a rather fancy $164. But wait, there’s more! The daily average traded volume has surged by a staggering 62 percent to a mind-boggling $7.9 billion. One can only imagine the frantic buying and selling that’s been going on! 📈

As a result of all this hullabaloo, a tidy sum of $23 million has been liquidated from Solana’s leveraged market. And, oh dear, it seems that short traders have taken a bit of a hit, with $16.7 million being the damage. Meanwhile, Solana’s Open Interest (OI) has skyrocketed to around $7.5 billion and $16 billion respectively. It’s all a bit of a kerfuffle, if you ask me! 🤯

The Solana network is abuzz with activity, my friends! It seems that retail traders, whale investors, and corporations are all clamoring to get in on the action. And why not? The supply vs. demand shock is fueling a rather bullish sentiment, if I do say so myself. It’s all a bit of a feeding frenzy, and I’m not sure who’s going to come out on top! 🐟

But wait, there’s more! Upexi Inc. (NASDAQ: UPXI) has just announced that it’s raised a whopping $200 million to purchase more Solana for its treasury. According to the CEO, Allan Marshall, they’re expecting to hold a rather impressive 1.65 million SOL coins, worth a staggering $273 million by July 16. Blimey! 💸

Upexi is joining a rather exclusive club, it seems. A growing list of companies are adopting Solana for treasury management, including SOL Strategies. It’s all a bit of a Solana love fest, if you ask me! 🎉

So, what’s next for SOL price, you ask? Well, according to crypto analyst Ali Martinez, it’s aiming for a rather lofty $180 in the coming days. And why not? It’s already broken out of a resistance level around $158 in the last 48 hours. The sky’s the limit, it seems! 🚀

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2025-07-12 00:27