Solana’s Bullish Momentum: A Path to $200
Solana has shown impressive resilience in its price action, with eight bullish months outweighing four months of losses over the past two years. The network’s memecoin frenzy continues to drive high trading activity, and Axiom Exchange recently surpassed Pump.fun as Solana’s top revenue-generating protocol this week. The ecosystem remains vibrant, with Solana DApps generating over $162 million in April alone. As the chain continues to outperform, the bullish case for Solana reaching $200 grows stronger. Here’s a detailed look at the factors fueling this optimism.
Solana Builds a Bullish Case to Reach $200
Solana’s price action has demonstrated remarkable resilience, with eight bullish months outweighing four months of losses over the past two years. The network’s memecoin frenzy continues to fuel elevated trading activity, while Axiom Exchange recently dethroned Pump.fun as Solana’s top revenue-generating protocol this week.
The ecosystem shows no signs of slowing—Solana DApps generated over $162 million in April alone. As the chain outperforms competitors in Q1 2025 revenue metrics, market watchers anticipate whether SOL can maintain its momentum against larger-cap rivals. Technical patterns suggest a 20% upswing toward $180 this month could precede a run at the psychologically significant $200 level.
DeFi Development Corporation Expands SOL Holdings to Over 400K Tokens
DeFi Development Corporation (DFDV), formerly known as Janover (JNVR), has bolstered its Solana (SOL) treasury by acquiring an additional 82,404 tokens, bringing its total holdings to 400,091 SOL. At current prices, the stash is valued at over $57 million.
The newly purchased tokens include locked SOL acquired via BitGo’s OTC desk. While these assets remain immobile on-chain until unlocked, they retain tradability between institutions in over-the-counter markets. The firm intends to stake the holdings for yield generation.
This accumulation follows DFDV’s recent validator operation acquisition, enabling self-staking of its entire SOL treasury to create protocol-native cashflow. Despite these strategic moves, DFDV shares dipped 3.8% in Tuesday trading.
SOL Strategies Acquires $18M in Solana Tokens Using First Tranche of $500M Note Deal
SOL Strategies (HODL), a Toronto-listed digital asset firm specializing in Solana (SOL), has purchased over $18 million worth of SOL tokens. The acquisition was funded by proceeds from a newly secured financing deal. The company bought 122,524 SOL at an average price of $148.96 per token.
The move follows the initial $20 million closing of a planned $500 million convertible note facility with investment firm ATW Partners, announced last month. Despite the strategic acquisition, shares of the company fell 10% to around CA$2.6 in early trading, extending a decline from late April’s peak over CA$3.3. However, the stock remains up nearly 80% over the past two weeks.
"With the closing of our initial $20 million tranche from the ATW facility, we’re executing exactly as promised," the company stated, underscoring its commitment to Solana-focused strategies.
Solana (SOL) Eyes New All-Time High as Cup-and-Handle Pattern Signals Breakout
Solana’s recent price action suggests a potential surge beyond its previous peak, with technical analysts highlighting a bullish cup-and-handle formation. The pattern, observed across multiple timeframes, typically precedes significant upward momentum.
The token has rebounded from lows below $10 in late 2022 to current levels around $151, forming what traders recognize as the ’cup’ phase. A subsequent consolidation NEAR resistance completes the ’handle’—a textbook setup for continuation.
Market participants anticipate a decisive move above $180 could validate the pattern, potentially propelling SOL to new highs by May 2025. The asset’s strong recovery narrative and technical alignment position it as a standout candidate in the next crypto market cycle.
Hawk Tuah Meme Coin Scandal: Internet Personality Expresses Regret Amid $490M Crash
Haliey Welch, the viral ’Hawk Tuah Girl,’ has publicly addressed her involvement in the Solana-based meme coin that collapsed 93% after reaching a $490 million market capitalization. The token’s abrupt crash triggered a federal lawsuit alleging a rug pull scheme.
Welch admitted limited understanding of cryptocurrency during the controversy, stating she took a mental health hiatus following the fallout. ’I feel sorry for people who lost money,’ she remarked, while supporting legal action against the project’s creators.
The internet personality has since resumed her Talk Tuah podcast, vowing increased scrutiny of future business ventures. The incident underscores the volatile nature of meme coins on high-throughput blockchains like Solana, where speculative assets can rapidly gain and lose value.
