Bitwise Forecasts Solana Price Target of $750 As $55M SOL Hits Exchanges

Solana price surged in 2024, doubling its value as cryptocurrencies saw a widespread recovery. Entering 2025, SOL maintained its bullish momentum, trading above the $200 support level. Despite being 19% below its all-time high, analysts remain optimistic. Bitwise predicts a potential rally to $750, driven by $55M worth of SOL entering exchanges, boosting market sentiment and activity.

Solana Price Could Soar to $750, Says Bitwise

Bitwise has made bold predictions for the cryptocurrency market in 2025. The Bitwise anticipates Solana’s price soaring to $750, alongside significant growth for other major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

According to Bitwise, Bitcoin could reach $200,000, while Ethereum might touch $7,000. However, Solana’s projected price rise has particularly captured market interest, signaling growing confidence in its network’s scalability and adoption.

Pump.fun Sends $55M SOL To Exchange

Pump.fun has transferred 292,437 SOL, valued at $55.5 million, to Kraken after a 23-day interval. The account has deposited 1,500,893 SOL, equating to $303 million. Additionally, it sold 264,373 SOL for $41.64 million in USDC. This substantial activity highlights significant asset movements within the Solana ecosystem.

Recently, another transfer of 63,171 SOL worth $13.11 million was sent to Kraken. This brings Pump.fun’s total deposits to 1,564,064 SOL, valued at $316.5 million. Its strategic actions continue to attract attention within the crypto trading community.

Pump fun deposited 292,437 $SOL($55.5M) to #Kraken again today after 23 days.

So far, #Pumpfun has deposited 1,500,893 $SOL($303M) to #Kraken and sold 264,373 $SOL for 41.64M $USDC.#Pumpfun has earned a total of 2,016,391 $SOL($398M).https://t.co/eO2OHLWL0c pic.twitter.com/UG8RjIYa1N

— Lookonchain (@lookonchain) January 2, 2025

SOL Price Analysis: What’s Next For Solana?

The latest SOL price has witnessed a significant surge, reaching $211 as bullish momentum builds in the cryptocurrency market. The top altcoin continues to recover from previous dips, bolstered by strong technical indicators suggesting further upside potential.

The Awesome Oscillator (AO) highlights increasing positive momentum, with green bars consistently forming above the zero line. This bullish signal indicates that buyers are regaining control, potentially paving the way for further gains in Solana’s value.

The Chaikin Money Flow (CMF) has climbed to 0.25, signaling substantial inflows of capital into SOL. The $200 level has proven to be a critical support zone, maintaining Solana’s recent price gains. Analysts are now watching the $263.83 resistance level, which represents the ATH, as the next significant hurdle. 

If this level is surpassed, the Solana price forecast could aim for the psychological $280 and $300 targets. However, traders should remain cautious as short-term corrections are possible. This may break below $200 level.

Bitcoin nears the $100K mark, igniting optimism across the cryptocurrency market for potential altcoin rallies. Ethereum price exhibits steady gains, recovering from minor pullbacks. This sustained momentum positions ETH as a market leader during Bitcoin’s surge.

The Solana price bullish outlook remains strong as market sentiment and whale activity align. Analysts anticipate potential gains toward the $750 target, supported by robust fundamentals.