Solana Price Falters as Active Wallet Holders Decline Amid Inflation Reduction Proposals

Solana's price has been affected by a moderate decline in its active wallet holders over the past two weeks. According to data, there are now 11.26 million wallets holding at least 0.1 SOL, down from 11.84 million previously.

Despite this, Solana's price remains above its short- and medium-term moving averages on the hourly chart, but below key longer-term levels. The Ichimoku Kijun at $74.05 serves as immediate support for the token.

The network is currently voting on proposals to reduce inflation and increase daily SOL burns, which could lower SOL supply growth by up to 18.9 million tokens over six years. This has raised questions about future staking rewards and network decentralization.

Analysts predict that Solana's price will hold within the range of $73.09 to $75.19 over the next 1 to 3 days, with an up probability of over 80%. A convincing break above resistance could trigger a further price increase.