Solana’s Bullish Surge: $185 Target in Sight as Metrics Signal Renewed Momentum

Solana’s native token SOL is capturing renewed market attention with a bullish price surge, backed by rising open interest and growing DeFi TVL. Despite overbought conditions hinting at short-term consolidation, technical strength suggests further upside potential. Futures data reveals mounting conviction, with Solana’s Open Interest reaching $6.8 billion—its highest since March. This resurgence in derivatives activity underscores growing confidence in SOL’s upward trajectory, with the $185 target firmly in sight.

Solana’s $185 Target in Sight as Metrics Signal Renewed Momentum

Solana’s native token SOL is attracting renewed market attention with a bullish price surge, rising open interest, and growing DeFi TVL. The asset shows technical strength despite overbought conditions suggesting a potential short-term consolidation before further upside.

Futures data reveals mounting conviction, with Solana’s Open Interest hitting $6.8 billion - its highest level since March. This resurgence in derivatives activity coincides with improving ecosystem sentiment among both traders and long-term holders.

Pump.fun Deposits $22.8M in SOL to Kraken Amid Resurgent Activity

Pump.fun, the memecoin launchpad, has transferred 105,233 SOL tokens worth $16 million to Kraken on May 3, followed by an additional $22.8 million deposit this week. The platform routinely sends accumulated transaction fees to the exchange every one to two weeks.

This month alone, Pump.fun has sold over $38 million worth of SOL, signaling robust fee generation. The latest transfer’s larger volume suggests renewed protocol activity, corroborated by rising daily volumes on Dune Analytics.

Solana (SOL) Poised for Takeoff as Bulls Eye $180 Breakout

Solana has reignited bullish momentum with a decisive move above $162, now consolidating NEAR $175 as traders anticipate a potential push toward $180. The SOL/USD pair shows technical strength, forming a rising channel with support at $172 on hourly charts.

Market activity mirrors broader crypto trends, with Bitcoin and ethereum also displaying renewed upward pressure. Kraken data reveals key resistance at $176—a breakout could trigger accelerated buying. The current consolidation follows a rejection at $180.10, suggesting accumulation before the next leg up.

MOODENG Meme Coin Surges 612% Amid $1.2B Volume Revival

Solana-based meme token MOODENG has staged a dramatic recovery, posting a 612% weekly gain alongside $1.2 billion in trading volume. The resurgence marks a stark reversal from its April lows when market capitalization had eroded to $20 million.

The token’s viral narrative—originally tied to a baby pygmy hippo—has reignited speculative interest. MOODENG briefly surpassed $100 million market cap shortly after its September 2024 debut before entering a prolonged downtrend.

Current momentum suggests traders are rediscovering risk appetite for speculative assets. The triple-digit percentage moves echo patterns seen during previous meme coin manias, though sustainability remains uncertain.