Today, a meme coin called PIPPIN in the Solana ecosystem suddenly surged by 61% against the trend, and it is rumored within the community that a 'whale wallet' is accumulating without selling, pushing the price up. This news is not just a spectacle—it indicates that the funding sentiment on the Solana chain is still active, and major investors are looking for opportunities. So what about SOL itself? Will it follow suit?
News
The sharp rise of small coins like PIPPIN is often a sign that large investors are testing the market's reaction. If even meme coins are being locked up and driven up, it shows that the funds in the Solana ecosystem have not all fled; they are just hiding in the corners waiting for the right moment. This provides invisible support for SOL—a vibrant ecosystem allows the major coins to gain momentum.
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Technical aspect
Looking at the hourly chart, SOL is currently at 126.63 USD, stuck at a critical position:
Above 128 is the dividing line between bulls and bears; breaking through here may turn the trend bullish.
Below 124 is the intraday support; if it holds, there’s no need to fear a drop.
Below 120 is the rebound support, the extreme position.
On the indicators, RSI is still in the oversold zone, indicating that the selling pressure has almost been released; although MACD has not yet crossed, the green bars are shrinking, and downward momentum is weakening. In terms of volume, there are signs of low-level increase, indicating that someone is starting to take positions.
Personal opinion
I think SOL can't fall here anymore.
The reason is simple: news has ecological heat support, the technical aspect is approaching a critical point and is oversold, there is a high probability of a rebound, first targeting 128, then looking towards 133 after stabilizing.
But be careful — 133 is not the end, but the first target. If the main force really wants to push up, it will definitely shake repeatedly below first, forcing retail investors to give up their chips, then suddenly start. So don’t chase as soon as it rises, as it’s easy to get stuck in the middle.
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What should retail investors do?
Currently: If still holding, stay above 124; consider reducing if it falls below 120.
Want to get in: wait for a stable rebound near 124 and try a light position, with a stop-loss at 120.
Remember: Don't think the bull market has returned just because it has risen to 133; instead, observe the volume — if it doesn't continue to expand, it might just be a short-term high point.
A real surge will definitely involve multiple rounds of shaking out; you must have the patience to hold the base position.
In this wave, I see it as not just a simple rebound, but the main force is building strength for the next wave.
But how it will move specifically, will there be a sudden black swan?
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