A large Solana whale has just reemerged after two years of silence; today, they bought massive quantities of SOL, a move that attracted excitement among savvy crypto traders. Data released today showed the whale scooped SOL valued at $3.6 million on Tuesday, with the analyst noting the timing, when the asset was trading at a low of $75. The whale withdrew 47,535 SOL tokens from Binance, marking its first transaction since 2024.
Why the Dormant Solana Whale Resurfaces
This week, the whale wallet that has been dormant for two years suddenly became active today and began buying SOL. Traders who are in the crypto market know the feeling: prices begin climbing, then an old whale comes to life, and then market sentiment attunes as if enormous buying is incoming. In such scenarios, traders often get trapped between FOMO and enthusiasm when early holders re-engage in accumulation at the bottom.
The mysterious crypto whale has been dormant over the past two years; this week, it resurfaced after seeing a recent Solana price drop. According to data from Lookonchain, the Solana whale capitalized on the price dip, buying 47,535 SOL tokens worth $3.6 million as the asset traded at a low of $75, signaling confidence in the market’s resilience.
In the past, the whale perfected his accumulation amid market dips noticed in August and October 2023, when they amassed 291,790 SOL tokens worth $6.82 million at an average price of just $23.37. With his strategic holding over time, they sold 191,789 SOL tokens at an average price of $128.36 a year later, in August 2024, earning a whopping realized profit of $20 million.
SOL Breaks Major Downtrend and What’s Next
After two years of inactivity, the whale suddenly woke up on Tuesday this week and bought 47,535 SOL tokens, indicating strong conviction in the Solana market. Their latest activity sends a clear signal to crypto traders that whales are expanding their SOL accumulation, buying tokens at prices they see as market dips as they position themselves for imminent market growth.
 
Whale-driven accumulation has enabled Solana to break out of a major downtrend line on its weekly chart, suggesting an imminent shift in market momentum. Today, SOL hovers at $87.73, up 13.25% in the last 24 hours. The asset has also been up 16.5% and 18.5% over the past seven days and month, indicating renewed enthusiasm that confirms a break of its established falling-wedge structure. This upside move suggests selling activity has subsided, and clients are increasingly buying, bolstering prices. By breaking above its year-long falling-wedge structure, the asset is poised to jump by over 50% as it eyes a reclaim of the $122.94 target in the coming days.
