- The Melania team intensifies token sales using a DCA strategy, offloading over $1.5M in $MELANIA for $SOL within days.
- Whale activity surges as MeCo secures $20.59M in $TRUMP holdings, becoming the second-largest VIP at the Dinner Party event.
- Solana forms a textbook cup and handles pattern on the weekly chart, signaling a strong bullish breakout potential toward $6,000.
The Melania token team has ramped up its direct selling strategy, offloading millions of $MELANIA tokens in a matter of days. Two days ago, the team sold 1.18 million $MELANIA, collecting $632,000 worth of $SOL. Moreover, they doubled down today, selling another 2.01 million tokens for $938,000. Besides, the team’s method relies on a consistent dollar-cost averaging (DCA) strategy, aiming to optimize returns over time.
Meanwhile, whale activity is making waves across the Trump-themed memecoin sector. Onchain Lens reported that a whale named “MeCo” withdrew 190,987 $TRUMP tokens from Binance. Consequently, this $2.83 million acquisition propelled MeCo into the second VIP spot at the ongoing $TRUMP Dinner Party. Additionally, MeCo now holds 1.389 million $TRUMP tokens, totaling $20.59 million in value. Only Justin Sun holds a larger position at the Dinner Party event.
Solana Forms a Bullish Cup and Handle Pattern
In a bigger market movement, Solana ($SOL) has shown strength in its weekly timeframe. Ali, a veteran market analyst, shared a long-term technical chart with a stunning cup and handle pattern. The 2021 to 2025 period illustrates Solana’s ups and downs.
At first, Solana fell from around $150 to less than $10 during the bear market of 2022. In light of Solana’s stability between $8 and $14 through early 2023, the left side of the cup was thus finished. The right side of the cup took shape as Solana rebounded above $150, reaching peaks around $220 by early 2024. Consequently, the handle formed a mild pullback between $150 and $200, exhibiting decreasing volatility.
Moreover, the technical setup at the moment suggests a potential bullish breakout. From $300 to $6,000, the breakout arrow indicates strong upside targets. A logarithmic scale is also used to highlight the possibility of exponential expansion.
Market Sentiment and Future Outlook
Besides the bullish technical patterns, strong whale activity and consistent token strategies like those seen with MELANIA add optimism. Furthermore, Solana’s recovery and technical strength suggest that major altcoins could lead the next market rally. Sustained momentum here could trigger explosive moves across the crypto market, drawing in both retail and institutional investors.
