Solana eyes a 30% rally to $216 as a rounding bottom forms and active addresses hit 17M ATH ahead of PumpFun’s highly anticipated ICO.
The price of SOL is poised for a 30% rally as it may see significant gains this weekend in anticipation of a token sale by PumpFun, a meme coin launchpad based on SOL.
This incident has caused the Solana network’s address count to reach a new all-time high.
A rounded bottom pattern suggests buyers could trigger a 30% rally above $200, meaning that more gains are conceivable.
SOL had gained 3% on the last day and was trading at $163 at the time of writing.
As 30% Rally Approaches, Solana Price Prepares For Weekend Volatility
Due to PumpFun’s planned token sale this weekend, Solana may see some notable price fluctuations.
PumpFun plans to launch a $4 billion initial coin offering (ICO) on July 12 to increase meme coin activity on its platform, which will essentially spill over to the Solana blockchain, as CoinGape revealed.
Bullish feelings on the price of Solana are being fueled by the fact that this token sale is taking place during a period when the entire cryptocurrency market is rising.
Simultaneously, a rounding bottom has been developing, indicating that additional gains could be forthcoming as the recent decrease in SOL is probably ending.
The fact that SOL is testing resistance at $165 is one indication that this bullish perspective is valid.
The price of SOL has already passed this resistance level twice, but to prove that bullish traders are in control, it must close decisively above it.
Suppose this resistance level is broken, and Solana begins to rise.
In that case, the price may continue its upward trend by more than 30%, reaching not only $200 but also $216, the highest level since early February 2025.
However, the token must overcome resistance at the 200-day SMA of $164 to fulfill our bullish Solana price prediction.
The rally to $200 is more likely because historical evidence indicates that whenever SOL climbed above this SMA, it saw significant gains for months before reversing course.
Leading SOL Active Addresses Before PumpFun ICO
According to Santiment data, there are 17.1 million 24-hour addresses on the Solana blockchain, a 400% growth in the last day.
These addresses are at their most excellent point ever, suggesting that interest in SOL is increasing.
Generally speaking, increasing the number of addresses leads to price increases because it indicates strong demand.
The developments with PumpFun are the source of this demand, as traders are probably beginning to purchase more SOL in anticipation of this token sale because they believe its price may rise.
The community anticipates that this occurrence will put Solana’s price in a strong position to maintain its gains.
In conclusion, given the impending sale on the PumpFun meme currency launchpad, the price of SOL may be on the verge of a significant upward bounce.
Substantial gains for the currency are driven by the more than 400% increase in daily addresses on the Solana blockchain; a rounding error suggests a 30% jump.
