Pump.fun has intensified its unloading spree, transferring another 156,425 Solana (SOL) — worth approximately $25.74 million — to the Kraken exchange. This brings its total deposits to 3.49 million SOL, valued at over $640 million. The regularity and scale of these transactions suggest a calculated exit strategy, adding to market unease. According to Market Prophit, both retail and smart money sentiment have turned bearish, mirroring recent price action. SOL has dropped 5.63% in the past 24 hours, currently trading around $163.07, signaling weakening confidence across investor classes.
$SOL Sentiment
— Market Prophit (@MarketProphit) May 30, 2025
CROWD = Bearish 🟥
MP = Bearish 🟥
Check out sentiment and other crypto stats at https://t.co/HQDyBNuzek pic.twitter.com/Mq5r65olmT
Technical Breakdown Hints at Further Losses
From a technical perspective, SOL has broken below its ascending trendline, following a rejection at the key $179 resistance. This breach opens the door for a decline toward the $140–$145 support zone. Additionally, the Stochastic RSI is entrenched in oversold territory, implying minimal upside momentum. This breakdown, coupled with persistent sell-side pressure, suggests that unless a strong bullish catalyst emerges, the asset could see deeper retracements. With structural support weakening, the short-term outlook leans heavily bearish.
Derivatives Data and Liquidations Confirm Bearish Shift
On May 30th, CoinGlass data recorded $273.26 million in outflows versus $241.56 million in inflows, a net outflow of $31.7 million, highlighting declining investor interest. The OI-Weighted Funding Rate has also flipped negative, at –0.0015%, indicating an uptick in short positions. This marks a shift in market sentiment, with derivatives traders now betting on further downside. Moreover, $18.99 million in long positions were liquidated, compared to only $566.7K in shorts, underscoring the capitulation of over-leveraged bulls. Bybit accounted for the largest losses, followed by Binance and OKX.
Also Read: Solana Price Prediction: Will Retail Accumulation Trigger a Breakout in June?
With technical breakdowns, negative funding rates, and aggressive sell-offs converging, Solana is at a pivotal support level. A breach below $140 could accelerate the downtrend and confirm a broader shift in market structure. For now, all eyes are on whether bulls can hold the line — or if bears will continue their assault.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
