Popular rapper American rapper Gazzy Garcia, also known as Lil Pump, has tattooed the word “Solana” on his forehead. Garcia took to Instagram and asked his 14 million followers if they liked his new “tats.” The post’s caption highlights that the rapper has sold his SOL tokens.
It is unclear why the rapper got the “Solana” tattoo after selling his SOL holdings. The rapper may have booked profits and decided to unload his SOL tokens. The token took a rough beating in November 2022 when the FTX crypto exchange went bankrupt. SOL’s price fell below $10 by 2022 end. The token has made quite a recovery in the time since FTX’s fall.
Also Read: Solana (SOL) Dips 12%, When Will It Reclaim $170 Again?
Lil Pump, most famous for his song “Gucci Gang,” also spoke at Donald Trump’s rally in 2020. Trump has been very vocal about his support for the crypto industry. The former president of the United States has also enabled crypto donations for his campaign.
Will Solana (SOL) face a correction?
Garcia may have sold his SOL tokens to book profits, or the rapper may be expecting a price correction. SOL has been one of the best-performing cryptocurrencies of the past two years, rising from as little as $9.77 in December 2022 to surpassing the $200 mark earlier this year.
CoinCodex data highlights that Solana’s (SOL) price may remain at current levels for the remainder of the month. The platform, however, predicts SOL to reclaim the $170 mark in early July, hitting $172.66 on July 8, 2024.
Also Read: Solana: New Addresses Touch 1M as SOL Attempts a Comeback
There have also been a lot of rumors online about a potential Solana (SOL) ETF. If the SEC approves an SOL ETF, the asset’s price may witness a sudden spike.