According to cryptocurrency analysis firm LookOnChain, a Solana (SOL) whale has purchased 47,535 SOL, valued at $3.6 million. The whale had previously perfectly timed the 2023 market dip, buying 291,790 SOL for $6.82 million. SOL’s price had begun to rally soon after the whale purchased the 2023 dip. Let’s discuss if we may see a similar pattern this time around.
Should You Follow The Whale’s Pattern And Buy Solana?
Solana (SOL) is one of the most resilient cryptocurrencies in the market. The asset dipped to below $10 after the FTX collapse of 2022. Many believed it was the end of SOL, but the asset has since made quite a remarkable comeback over the last few years. SOL hit its latest all-time high of $293.31 in January of last year. SOL’s price has fallen by more than 74% since its 2025 peak.
Given that the smart whale had previously timed the dip perfectly, there is a chance the whale could be right this time around as well. Many experts anticipate the cryptocurrency market to enter the early stages of the next bull run. Bitcoin (BTC), in particular, follows a four-year trajectory. BTC hit its last all-time high in October 2025. Going by the four-year trajectory, BTC will likely hit its next peak sometime in 2029. The journey to 2029’s all-time high will likely begin sometime in 2027. Solana (SOL) will also likely follow a similar pattern. Hence, the smart whale could be right in timing this market dip as well.
Also Read: US Treasury “Moving Quickly” to Implement Crypto GENIUS Act
However, there are challenges. The cryptocurrency market is struggling to gain steam and the Federal Reserve has yet to announce an interest rate cut this year. Higher rates may lead to retail investors staying away from high risk assets, such as Solana (SOL). SOL’s price could dip further if the current market trend continues.