The search popularity for the world’s 4th biggest cryptocurrency, Solana (SOL), has reached a record high in the last 5 years. According to data from Google Trends, as the Solana (SOL) price exceeded the $200 mark, Solana’s (SOL) word popularity reached 100 for the first time. Earlier, the search popularity for Solana was 84 in September 2021.
Why Solana searches are increasing?
The major reason behind the popularity of Solana (SOL) is caused by its performance in the last few days. In the past few days, when the overall cryptocurrency market was experiencing a downside momentum, Solana’s SOL experienced a massive price surge in its value. This performance of SOL over the period has caused it in the Google search trend.
Top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and others experienced a massive price fall, amid this Solana’s SOL surged more than 40%. Solana’s SOL is trading near $202, and in the last 24 hours, it experienced a price surge of over 8%. If we look at SOL’s performance over a longer period, in the last 7 days, SOL price soared nearly 44%. Whereas, in the last 30 days, SOL experienced a price surge of over 85%.
According to expert technical analysis, SOL is looking bullish as it already gives a breakout of a major resistance level of $200. However, this resistance for SOL was a major hurdle but as it gives a breakout the next hurdle that SOL may experience is the $250 level. But before SOL heads toward the $250 level, there might be a chance that SOL will experience some price consolidation. Either on the current level or above the $210 level, but consolidation is a must for SOL to further surge.
Investors reaction as Solana’s SOL reach $200
Besides its performance in the past few days, as Solana’s SOL price reached the $200 mark, Solana whales (Massive SOL holders) began to make a profit. On March 18, 2024, an on-chain analytics firm made a post on X (previously Twitter) that a whale address BU6N2Z had deposited 200K SOL worth around $39.85 million into the world’s biggest cryptocurrency exchange, Binance.
However, this whale still holds over 1.62 million of SOL worth around $324 million. Out of this massive holding, this whale staked over 1.23 million of SOL, and currently, 387K SOL worth around $77 million are there in its wallet.
