Solana Whales Double Down—So Why Is the Price Tanking?

Solana''s big players are loading up their bags—yet SOL keeps sliding. What gives?

Whales vs. Weak Hands

On-chain data shows Solana whales accumulating aggressively, but retail traders keep dumping. Classic crypto mismatch—institutional conviction meets paper-handed panic.

The Liquidity Paradox

More whale buys should mean upward pressure. Instead, SOL''s price action looks like a leaky faucet. Either someone''s stealth-dumping, or the algos smell blood.

VCs Playing 4D Chess?

Rumor mill says big funds are accumulating for a Q3 push. Or maybe they''re just propping up exits for their seed rounds—wouldn''t be the first time.

Bottom Line: Whale moves don''t lie... but they don''t always tell the whole truth either. Watch the order books, not the headlines.

Whales and institutional participation skyrocket 

On the 12th of June, whale tracker Onchain Lens flagged that two newly created crypto wallets withdrew 1,348,741 SOL worth $219.99 million from Coinbase Prime.

Such a substantial altcoin withdrawal is typically associated with whales or institutions and appears to be a bullish sign for the asset.

However, the whale sent all of this SOL for staking, which suggests a long-term belief in Solana. This is a bullish sign and further indicates a potential buying opportunity.

In addition to this whale transaction, investors and long-term holders have also been found accumulating the token, as the price appears to be heading for a correction.

$21.82 million worth of SOL outflow

According to CoinGlass’ Spot Inflow/Outflow metric, exchanges across the crypto landscape have recorded an outflow of $21.82 million worth of SOL tokens in the past 24 hours.

Source: CoinGlass

This substantial token outflow from exchanges suggests potential accumulation, which could lead to buying pressure and a further upside rally.

However, despite this bullish backdrop, the price briefly dipped 4% to $159.60, in line with the broader correction.

Solana bulls are loud, but are they early?

Given the current market sentiment, traders are increasingly betting on the bullish side. At press time, Binance’s Binance’s Long/Short Account Ratio hit 2.40, with 70.61% of traders holding long positions.

Source: CoinGlass

That’s a strong skew, suggesting Leveraged traders continued to bet on the upside despite the pullback. Moreover, short positions made up just 29.39%, showing bears were still reluctant to step in with size.

When combining these metrics, it appears that bulls are currently dominating the altcoin and are helping to maintain SOL in an uptrend.

Solana: Price action and key levels

According to AMBCrypto’s chart analysis, SOL appears to be in an uptrend, although it is currently experiencing a market correction.

The daily chart revealed that the altcoin recently surged over 15% to reach the $168 level but is now retesting a local support zone NEAR $157.80.

Source: TradingView

If buyers defend $157, another push to $184—roughly 16% higher—remained possible. However, if sellers take control and price breaks below $156, downside targets included $148 and $142.