Solana Whale Amasses 5.41M Tokens Ahead of Meme Coin Move

A Solana whale has been accumulating tokens in a recent move that may signal impending price action. According to on-chain data, wallet BmKrss pulled $2.25M worth of SOL from Binance and deployed $1.7M to acquire 5.41M units of solana:6GmAFSYs4gk3FDao5FzzySQpPZaWsa4rUJHacpMpUNgx.

The whale's purchase is reminiscent of the accumulation patterns seen on Solana ahead of the 2021 price peak near $216. This time around, the SOL price sits at $101.41 beneath the EMA50 at $102.1 and the EMA200 at $93.66, offering deeper structural support.

The MACD death cross is bearish, but the neutral RSI of 48.34 leaves room for a test of the upper Bollinger band near $105.44 before any potential pullback to the lower band near $98.07.