Solana has seen a sharp decline in its price, currently resting at $116. The unfortunate drop of 12% over the past week raises concerns about significant sell-offs by major cryptocurrency holders, often referred to as “whales.” Reports suggest that these whales unstaked and moved around $46 million worth of SOL tokens to exchanges, igniting fears of a deeper downturn.

As large investors offload their assets, the Solana community remains anxious about the implications for future price trends. It will be vital for investors to monitor Solana’s movements closely to determine if recovery is on the horizon or if the market will face more pain ahead.

The situation poses questions about demand sustainability for SOL and how whale activities will continue to shape the market.