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Pumpfun recently transferred 105,233 SOL tokens, valued at approximately $15.86 million, to the Kraken exchange. This significant move is part of an ongoing pattern, drawing attention to Pumpfun’s consistent activities. The transaction raised Pumpfun’s total SOL transfers to 3,202,498, with the team reportedly selling 264,373 SOL for nearly $41.64 million in USDC. On-chain data confirms that within hours, three new wallets withdrew a total of 145,000 Solana 
$173 (SOL).
Impact of SOL Coin Sales
The transaction coincides with a bullish breakout in Solana’s daily chart, despite weak trading volumes which could negatively affect pricing. Analysts have noted the potential implications for the market, given Pumpfun’s ongoing sales strategy.
SOL’s price has been positively influenced in recent weeks, showing a sustained upward trend. These developments may play a crucial role in shaping short-term market dynamics, particularly in light of weak trading volumes.
Current and Future SOL Pricing
Crypto analyst Gerlaenco predicts that the price of Solana might experience a bounce exceeding 50%, potentially reaching $200 by May. He emphasized this forecast, stating with confidence that SOL could hit the target by the end of May.
Analysis indicates that the $170 to $185 range has been a significant resistance level previously. If Solana’s price breaks through this zone, it could pave the way for advancements towards the $200–$220 range.
Moreover, Bloomberg analyst Eric Balchunas has increased the likelihood of a SOL ETF approval to 90%. This potential approval is drawing significant investor interest, causing both the spot and derivatives markets to become highly active. Such an approval could strengthen Solana’s market position substantially.
Daily trading volume on the SOL front is fluctuating between $4 billion and $6 billion. Data from DeFiLlama suggests that stable transaction volumes and preserved market liquidity reflect active investor participation. Market observers consider trading volume and price movements as critical indicators of Solana’s performance.
Technical indicators and recent transaction data suggest a promising short-term trajectory for Solana. Investors might make strategic decisions based on current resistance levels and the anticipated ETF approval. Monitoring price trends and transaction volumes remains vital for market followers.
