Solana whales are dumping their SOL holdings as its price is at risk to fall below the $100 price mark and potentially falling into double digit range. Once considered a flagship altcoin, SOL is now tumbling down as the whole crypto market sees drastic downtrend.
Onchain analytics firm Lookonchain notes that two whales – which have millions in holdings – have sold their SOL amid the market uncertainty. Even one whale had their 159,028 SOL staked and they unstaked it to sell 60,000 at the market price of $102 for $6.13 million.
The sell-off from whales came amid heightened market volatility, with SOL experiencing a notable price decline. Between April 3 and April 9, 2025, SOL price dropped from $117.42 to $105.42, while hitting a low of $95.26 on April 7.
At the time of writing, SOL price is trading near $107.34 – down 15.60% in the past 30 days while it just marked a new all-time high of $294.33 earlier this year on January 19.
Since hitting all-time high, SOL price is currently down 63.68% with it losing over $72 billion from the market cap.
Could SOL Price Fall Below $100? Price Analysis
While SOL has already broken below $100 earlier this week, market analysts are closely monitoring its key support level near this level. If $100 support is broken, the next major support SOL would find in between $83 to $80 range.
Now as the global finance and trade markets are entering into bearish phase, the further downtrade would likely pull SOL price below $100 while it also has potential to bounce from here and surge to recover past gains if any bullish news hits the market.
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