Solana Bulls Gobble Dip as $220 Summer Rally Looms—Meanwhile, Solaxy Rakes in $41M Presale Haul
Solana’s bulls aren’t just grazing—they’re loading up. With whispers of a $220 summer surge, traders are treating every dip like a Black Friday sale. Meanwhile, Solaxy’s presale cracks $41M, proving even in a bear market, someone’s always selling shovels.
Will SOL hit its target? Maybe. Will presale hype outlast the champagne bubbles? Almost certainly. Welcome to crypto—where the line between ’visionary’ and ’bagholder’ is thinner than a memecoin’s whitepaper.
Surging to $186.94 on May 23rd, solana (SOL) faced a healthy pullback that’s now creating excellent buying opportunities. With institutional interest on the rise, Solana could quickly see a shift in momentum as investors are eager to capitalize on potential summer gains.
Solana’s growth potential could be bolstered by the upcoming release of Solaxy (SOLX) and its LAYER 2 blockchain. Designed to address Solana’s congestion issues, the Layer 2 is expected to release alongside the SOLX token in just 20 days with its presale having raised over $41 million so far.
Solana Network Shows Strength That Hints at a Future Rally
Solana’s native token, SOL, took a sharp downturn when the Layer-1 infrastructure proved incapable of handling massive volumes in late January.
Following the release of the OFFICIAL TRUMP (TRUMP) meme coin, a surge in Solana’s network activity led to numerous transactions failing or experiencing long delays.
While the fallout of its congestion issues lasted for two months, Solana is now picking up speed, with its on-chain metrics flashing green across the board. Data from DefiLlama shows the chain’s total value locked in DeFi surged from $6.09 billion on April 9th to over $9.3 billion on May 27th.
Similarly, the number of users holding over 0.1 SOL reached an all-time high of 11.16 million in late May, as pointed out by expert Ali Charts.
SOL enjoyed renewed investor interest over the past weeks, which saw it grow by over 66.55% since it was priced at $105.7 in early April. However, it still has a long way to go to reach its late January high of $294.33.
Identifying a symmetrical triangle formation in SOL’s chart, analyst Yokai Ryujin predicts a breakout will follow shortly.
if you’re not bidding $SOL and major memes here with good structures
you’ll be bidding higher imo during fomo
always look for breakouts and high R:R plays
god candle loading imo with target of $220$WIF & $MANEKI 🟩 pic.twitter.com/FVlEJo8IfI
The analyst highlights that SOL is trading above key moving averages, pointing to the token’s ongoing bullish momentum. Placing a target at the $220 level for SOL, the analyst’s prediction is supported by other technical indicators.
For example, SOL’s Relative Strength Index (RSI) is at 57.51, which suggests strong buying interest that could make a MOVE above the key resistance level more likely if maintained.
Besides SOL’s bullish outlook, the rumors of a planned $3 billion investment into the crypto sector by Trump Media have created a buzz in the market. If realized, the investment could create excellent conditions for growth among altcoins, including Solana, which the president previously considered adding as a national reserve asset.
However, since Solana was previously the victim of its own success, its improving on-chain metrics raise congestion-related concerns. That’s why Solaxy and its upcoming Layer 2 solution are now attracting significant attention, which could translate to an explosive debut.
Solana Layer 2 Solaxy Raises $41 Million Ahead of June Launch
Solaxy’s upcoming launch represents excellent news for Solana users, including token developers. With its Layer 2 blockchain leveraging rollups to take the burden off Solana, its release could result in lower gas fees and faster transactions.
Although the Layer 2 solution is the project’s crown jewel, Solaxy’s developers are releasing an entire ecosystem. It will include a token launchpad that allows anyone to launch a token with no prior experience.
Plus, a bridge between Solana, Ethereum, and Base, currently live in its testnet version, will help combine Ethereum’s vast liquidity with Solana’s impressive speeds.
Solaxy is designed to resolve one of the biggest issues for Solana and is fueled by impressive presale momentum. Investors have a limited time to take advantage of its presale’s low per-token price, currently at $0.001736.
With a detailed roadmap, presale success, high staking rewards, and a real use case, Solaxy is shaping up to rally with Solana this summer and could be one of the year’s hottest crypto launches.
