Solana's Token Sale Ambition: solana's Pump.fun Announces Billion-Dollar Token Offering, Inciting Traders to Buy $43.8M Solaxy ICO Before Listing Approachment
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Solana's (SOL) price dipped by 2% over the last 24 hours, trading at $156.10 as of 3:44 a.m. EST on trading volume that took a 5% hit, settling at $3.58 billion.
Despite this downturn, Pump.fun, a popular Solana meme coin launchpad, is planning a $1 billion token sale at a $4 billion fully diluted valuation (FDV).
💸 $1 BILLION TOKEN SALE 💸 🎥 Watch
In the past year, the platform has generated over $700 million in revenue and aims to use the generated hype to boost token adoption.
Bullish Projection for Solana within a Rising Channel Pattern
On the 1-day timeframe, Solana has been rocketing upwards in a sustained bullish trend within a rising channel pattern. With Solana’s climbs, it's established a stair-like support system, enabling it to ascend.
Recently, SOL broke below the support at $167, causing the price to slide back to the $154 zone, still within the rising channel pattern as shown by GeckoTerminal data. A slight consolidation seems to be forming, which may trigger a rally.
The price of Solana has finally dipped below both the 50-day and 200-day Simple Moving Averages (SMAs), with the 50-day SMA acting as the immediate resistance at $158.52.
Meanwhile, the Relative Strength Index (RSI) seems to be holding steady without a definite direction after a dip from the 50 neutral zone to now sit at around 42.
If the bulls seize control, the RSI could tick upward toward the 50-neutral level, pushing the price of Solana back to the previous support, now resistance, at the $167 level. A stronger surge could propel SOL to the $202 resistance, still within the rising channel pattern.
On the flip side, if SOL continues to face pressure from the bears, it may bust out of the consolidation.
In such a case, the $127.5 support could act as a barrier against downward pressure.
Meanwhile, a new Solana project, Solaxy (SOLX), has caught investors' attention as its parabolic presale is nearing its end. With listings imminent, YouTube channel 99Bitcoins, with over 723K subscribers, predicts the crypto could soar 100X post-launch.
Intense Investor Interest in Solaxy Presale as it Approaches the $45 Million Milestone
The Solaxy presale has currently raised over $43.8 million and is expected to conclude in 12 days. Investors are scrambling to secure their share, as they don't want to miss the cut-off date.
Solaxy is building the world's first Solana layer 2 blockchain, addressing Solana's congestion issues by implementing off-chain computation and transaction bundling technology.
Although fast and affordable, Solana's mainnet experiences growing pains. Around 50% of non-voting transactions falter during peak periods due to meme coin crazes and bot activity.
Solaxy tackles these issues head-on by performing transactions off-chain using rollup technology, bundling them, and settling them on Solana's mainnet.
The SOLX token powers the network's transactions, governance, and staking. The project's staking program offers a colossal 92% annual return, making it highly attractive to investors. Over 12.4 billion SOLX tokens have already been staked.
For more information and to join the presale, go to the official Solaxy website using ETH, BNB, USDT, or cards. Keep in mind; the project has now indicated that investors have only about 12 days left to join one of the most successful presales of the year.
🔗 Visit the Solaxy website
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[1] Enrichment Insight: Solana's price outlook for June 2025 is likely to gravitate between $150 and $195. Depending on broader market sentiment, the weekly trade may range between $150 and $179.
[2] Enrichment Insight: The Soloxy presale, an upcoming Solana project, could potentially grab investors' attention due to the perceived potential for significant returns, although it comes with higher risks.
[3] Enrichment Insight: A successful Solana project, such as Soloxy, could impact investor sentiments, potentially boosting demand for similar projects, including the Soloxy presale.
[4] Enrichment Insight: The competition between Solana and new projects, like Soloxy, could lower demand for each other if they target similar markets or use cases. The success of one could negatively affect the demand for the other. However, these predictions are based on assumptions and speculations, and it's hard to provide a precise analysis without more specific information about Soloxy.
In the realm of technology-driven finance, investing in Solana's (SOL) potential rally could be an advantageous move, considering its current position within a rising channel pattern. This bullish projection could lead to SOL reaching the $202 resistance, given the strong investor interest in Solana-related projects, such as the forthcoming Solaxy (SOLX) token sale aiming for a $1 billion investment at a $4 billion fully diluted valuation (FDV).
