Solana’s back in beast mode. In just 4 weeks, $SOL has zoomed from under $100 to $170 — that’s an 88% send, fam. While Bitcoin’s been cruising with a 40% gain, SOL’s been doing donuts around it.
The pump kicked off on April 7, and now big-money players (aka block traders) are going full ape mode on it.
They’re throwing bags at $200 call options expiring June 27. Translation? They’re betting SOL’s hitting $200+ before June wraps. One whale trade even dropped $263K in premium on 50K contracts. No cap.
And guess what? They got in while implied volatility was low (84%), meaning their entry was on discount. Usually, SOL’s IV is triple digits, so this was a solid sniper move.
But here’s where it gets spicy:
Market makers are now in net negative gamma at the $200 level. That means as the price moves up, they gotta buy more SOL to hedge. If price drops, they start selling. This creates a wild ping-pong effect and could send SOL even higher (or make it hella bouncy).
Chart Vibes?
- Solana’s token SOL broke $120, then $162.
- Now it’s trying to crack $180.
- It’s showing a lil’ hesitation, might fake out before sending.
- If rejected, it could dip to $162 (support now), bounce there, and then moon.
So yeah, $200 isn’t just a meme anymore. It’s in play.
And if this momentum holds?
Solana might just break the internet again.
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