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The Solana price dropped 2% in the past 24 hours to trade at $173.27 as of 12:26 a.m. EST on trading volume that plunged 15% to $3.1 billion.
This drop in the SOL price comes after personal information about Solana co-founder Raj Gokal was leaked through Migos’ official Instagram account. The account, belonging to the famous hip-hop group, was reportedly hacked on Monday, and the attackers used it to publish Gokal’s private data.
The hackers posted a series of photos of alleged IDs, passport scans, and personal data that belongs to Gokal on the account, which has 13 million followers.
BREAKING:
Famous rapper ‘Migos’ IG account appears to be hacked and has posted photos of Solana co-founder @rajgokal ID, passport, & more with sensitive info leaked.
Caption reads “you should’ve paid the 40 btc” which reads like a failed bribe. pic.twitter.com/HM9y2XRjMa
— Andy (@ayyyeandy) May 27, 2025
The leaked documents were aired with threatening captions, with one stating, “You should’ve paid the 40 BTC,” an indication of a failed extortion effort.
Solana Price Currently Consolidating – Set For A Breakout
The SOL price is trading around the $173.27 level, which shows a strong recovery from its March lows near $96.69.
The Solana price has since been trading within a rising channel pattern, indicative of a bullish trend structure.
SOL price action remains confined within this upward-sloping channel, and recent candles suggest a consolidation phase just below the $181 resistance, previously a key support and now a significant resistance level, aligning with the 200-day Simple Moving Average (SMA).
Meanwhile, the 50-day SMA now acts as the immediate support level around the 0.382 Fibonacci Retracement level at $152.44, as GeckoTerminal data shows.
The Relative Strength Index (RSI) stands at 56.71, which is in neutral-to-bullish territory. This indicates that there is room for further upward movement before the market becomes overbought.
Solana indicates a potential breakout above the critical $181–$188 resistance range. Should bulls manage to push the price above the 200-day SMA, the projected breakout target is around $207, (0.27 Fib level), a 13.6% surge.
However, failure to break the $181–$188 resistance range could result in a retracement to the $163 or $152 support levels, aligned with the 0.236 Fib level and the 50-day SMA.
Meanwhile, investors are flocking to the presale for the new Solana layer-2 project Solaxy (SOLX). The project has already brought in over $41 million in presale, making it one of the largest token sales this year.
Popular YouTube channel 99Bitcoins, with over 723K subscribers, says the crypto has the potential to soar 10X post-launch.
Solaxy Presale Racing Towards $45 Million – 20 Days Left To Buy
Solaxy is building the world’s first Solana layer-2 blockchain. The project aims to tackle Solana’s network congestion issue, which causes instability during periods of peak activity.
Having just crossed the $41 million raised milestone, the spotlight is shining on SOLX right now.
The project enhances Solana’s scalability by moving transactions off-chain to prevent congestion and reduce transaction costs. To accomplish this, Solaxy introduces a native sidechain that uses rollups to batch transactions before settling them on the main Solana chain.
That model has already successfully scaled a blockchain through platforms like Arbitrum and Optimism.
It's perfectly okay to think about $SOLX at night…
We won't tell 😉🔥https://t.co/mdaTX9aVVx pic.twitter.com/AZcIvfpiS6
— SOLAXY (@SOLAXYTOKEN) April 22, 2025
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s Layer-1 capabilities.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001736 each using BNB, ETH, USDT, or a bank card.
Solaxy also offers holders who stake SOLX a huge annual yield of 98%.
Interested investors will want to buy SOLX before the presale ends in around 20 days.
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