Solana Faces Selling Pressure Despite Strong Network Fundamentals
Solana (SOL) recently dipped below the $150 support level, experiencing a 5.2% intraday drop as whale deposits to centralized exchanges triggered aggressive selling. Over three days, more than 3 million SOL tokens flooded the market, correlating with $468 million in outflows. Despite maintaining robust network metrics—including 100 million transactions and 7 million daily active addresses—the price action diverged from these strong fundamentals. The $153 resistance level remained firm during multiple retests, indicating continued selling pressure. As of June 6, 2025, Solana's market performance reflects short-term volatility driven by large holders, while its underlying network health suggests long-term potential remains intact.
SOL Dips Below $150 Amid Whale-Driven Sell-Off
Solana (SOL) breached the $150 support level with a 5.2% intraday drop as whale deposits to centralized exchanges triggered aggressive selling. Over 3 million SOL tokens flooded markets in three days, correlating with $468 million in outflows.
Despite maintaining robust network metrics—100 million transactions and 7 million daily active addresses—price action diverged from fundamentals. The $153 resistance level held firm during multiple recovery attempts, while a descending channel formation signaled bearish momentum.
Critical support at $150 failed during a 182K volume spike at 13:56 UTC, though nascent buy interest emerged NEAR $149.50. Analysts warn that reclaiming $153 is now pivotal to stem further downside.
Coinbase Listing Hype Sends Fartcoin Back Into Top 100
Fartcoin, the joke-themed token, surged 12% in a single day after Coinbase added it to its listing roadmap. While not yet officially listed, the inclusion typically precedes a live listing within weeks. Traders are betting on this pattern holding true.
The token's price soared 372% from its yearly low, with trading volume doubling to $414 million and market cap reclaiming $1 billion. This rally defies broader crypto market weakness, driven by political tensions between Donald Trump and Elon Musk over digital asset regulation.
Originally minted for just 2 SOL on Pump.fun in October 2024, Fartcoin has evolved from meme status to cult favorite. It's now poised for its first positive quarterly return after a 132.5% Q2 gain erased Q1's 51% decline.
SOL Recovers to $147 After Flash Crash Shakes Out Weak Hands
Solana (SOL) weathered a turbulent 24-hour period, shedding 8.1% of its value amid geopolitical tensions and global trade anxieties. The asset plunged from $154.48 to $141.75 before finding footing at $147.40, demonstrating resilience in the face of market jitters.
A flash crash during the 01:20 trading hour briefly drove SOL to $144.93, but aggressive buying quickly reversed the dip. The rebound underscores persistent demand for solana even during heightened volatility. Technical charts now reveal an ascending support trendline, with the $150–$152 range emerging as critical resistance.
Volume spikes exceeding 3 million SOL between 19:00–20:00 UTC shattered previous support levels, while the rapid recovery at $142 established a new high-volume support zone. Declining volume during the stabilization phase suggests consolidation may precede the next directional move.
Fartcoin Spikes 18% on Coinbase Listing News; How High Can It Go?
The Solana-based meme token FARTCOIN surged 18% following Coinbase's announcement of its potential listing. Trading near $1.06, the token's daily volume spiked 83% to $408 million, pushing its market cap to $1.06 billion. Analysts speculate a $2 target if momentum holds.
Coinbase's roadmap inclusion signals growing institutional recognition for meme coins, despite Fartcoin's whimsical branding. The token now ranks as the sixth-largest meme coin by market cap, trailing Bonk, Trump, Pepe, Shiba Inu, and Dogecoin.
Market makers and technical readiness remain final hurdles before full exchange integration. The listing could further legitimize Solana's ecosystem of viral tokens, which continue to attract speculative capital.
