Solana price movement triggers $2.8M short squeeze as SOL surges past $176

The Solana price movement erupted into chaos over the past 24 hours, with a violent 14,602% liquidation imbalance crushing short traders as SOL rallied toward $178.

Data from CoinGlass reveals that over $2.82 million in bearish positions were wiped out in a single hour during the surge, marking one of the most aggressive short squeezes in recent weeks.

The rally briefly propelled Solana to $178.07 before a slight pullback, leaving the market firmly in the bulls’ grip.

Short sellers crushed in hourly bloodbaths

The shocking Solana price movement not only surprised retail traders but caught institutional short-sellers off guard.

The liquidation imbalance—an eye-watering 14,602% in favor of longs—is one of the highest seen in recent weeks. Longs only suffered minimal damage, with just $19,180 wiped out in the same hour.

“This kind of imbalance is rare and signals intense one-sided pressure,” said James Lavish, managing partner at Bitcoin Opportunity Fund. “Solana is proving itself as more than a speculative asset—it’s attracting serious capital and user volume.”

While the Solana price movement may seem sudden, the groundwork for this rally has been building over days. On-chain metrics show growing network revenue, soaring transaction fees, and increased user adoption—all bullish signs.

Data from CryptoFees.info reveals that Solana generated $17.37 million in fees, eclipsing rivals like Ethereum and Tron, and proving that user engagement on the blockchain is surging. Analysts see this as a strong fundamental tailwind.

“Solana’s ecosystem is red hot,” noted Rachel Lin, CEO of SynFutures. “From NFT activity to DeFi protocol growth, everything is pushing the price north.”

Whales fuel the Solana price movement

In tandem with rising user activity, whale movements suggest that big money is now circling Solana.

High-stakes wallets have been accumulating SOL aggressively over the past 72 hours, a move analysts interpret as smart money anticipating a break above the $200 mark.

This pattern of accumulation supports the recent price surge, with whale wallets choosing to hold rather than sell—a sign of confidence in long-term gains.

As of press time, Solana trades at $176.35, representing an 8.23% gain in the past 24 hours, according to CoinMarketCap. It has climbed from a low of $166.02 to its current level, with strong volume and bullish technicals pointing to more upside.

If momentum continues, Solana could challenge the $200 psychological resistance—a level that, if broken, might open the door to explosive price action.

“This is no longer just a pump—it’s a full-blown rally backed by fundamentals,” said Chris Burniske, partner at Placeholder VC. “The Solana price movement is gaining structural support.”

Final thoughts: A market turning point?

The Solana price movement marks a potential turning point for the altcoin, especially in a market hungry for breakout narratives. With shorts devastated and whales piling in, the crypto community is watching closely.

Whether this rally is sustained or corrects sharply, one thing is clear—the Solana price movement has captured the spotlight and reignited bullish sentiment across the board.

The Solana price movement has become the center of attention in the crypto market. With whales backing the rally and fundamentals strengthening, the Solana price movement shows no signs of slowing.

Traders are closely monitoring the Solana price movement, as each surge confirms bullish sentiment. As momentum builds, the Solana price movement could redefine short-term market dynamics.