Will the whale event make SOL exceed 209 dollars?

In the Solana network, large holders (often referred to as 'whales') control 59% of its circulating supply, and their SOL assets are worth over $5 million, which has a significant impact on market price dynamics.
Since September 20th, although the social media discussion heat of Solana (SOL) has decreased, the market's interest in the project continues to rise, especially the activity of whales. As the SOL price gradually approaches the key resistance level, the movements of these large holders have become more noticeable, as they demonstrate their market influence by increasing their holdings.
This phenomenon may herald an important turning point in the market, as whales usually influence price fluctuations by manipulating the supply. Data shows that Solana's whales not only control up to 59% of the circulating supply, but their actions are often closely related to driving SOL prices to new resistance levels. This high percentage indicates that whales are confident in Solana's future potential and may continue to exert upward pressure on prices in the coming weeks.
However, it is worth noting that despite frequent whale activity, the social media mentions of Solana have been declining since the peak on September 20. This may suggest that although whale holders are bullish, retail investors are relatively cautious about Solana and choose to wait and see.
Recently, a well-known cryptocurrency analyst also noticed the increase in whale activities and regarded Solana as one of the top contenders among other competing cryptocurrencies. Compared to other competing cryptocurrencies, whales hold a higher proportion of the supply in SOL, which puts Solana in a leading position in potential Bull Market trends.
Therefore, the Solana market is experiencing a dual impact of increased whale activity and decreased social media mentions. While the accumulation of whales provides a positive signal for Solana's long-term prospects, the cautious attitude of retail investors may also lead to market fluctuations. Therefore, investors should consider multiple factors comprehensively when making decisions to cope with potential market changes.
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