Solana (SOL) Price: Reaches $180 as Pump.fun Introduces Revenue Sharing Model

TLDR

• Solana price broke above $180 as Pump.fun announced 50% revenue sharing for coin creators
• Derivatives data shows 8.43% jump in open interest to $7.40 billion, signaling capital inflows
• Technical analysis indicates potential targets of $190-$195 if momentum sustains
• Bearish divergence forming on 4-hour charts suggests possible retracement to $165
• Solana leads DEX volume with $22.4 billion over seven days, outpacing Ethereum

Solana has reclaimed the $180 mark for the first time since mid-February, gaining 5.8% on Tuesday to reach $183.61. The price surge comes as Pump.fun announced its new 50% revenue sharing initiative for coin creators, which will distribute 0.05% in SOL per trade to eligible creators.

The announcement garnered over 1.7 million views, drawing fresh speculative and builder-driven interest to the Solana ecosystem. This move appears poised to drive adoption and incentivize continuous token launches across the network.

Market participants responded swiftly to the news. The model includes all coins actively trading, newly created, or those graduated to PumpSwap, further reinforcing Solana’s role in the growing creator economy.

Solana’s price has increased 22% over the last week, showing strong momentum despite some concerning technical signals that have begun to emerge.

The network continues to dominate decentralized exchange (DEX) activity by a wide margin. Over the past seven days, Solana has posted $22.4 billion in DEX volume, outpacing Ethereum by over $6 billion and putting it well ahead of other competitors like BSC, Base, and Arbitrum.

Solana Price on CoinGecko

DeFi Metrics Show Strong Growth

According to DeFiLlama data, Solana’s total value locked increased from $7.5 billion at the beginning of May to $9.6 billion at the time of writing.

Leading platforms within the ecosystem have shown remarkable growth, with Marinade up 56%, Jito up 41%, and Raydium up 78%.

Chain activity remains robust with revenues and transaction fees steadily climbing for four weeks, approaching three-month highs. With approximately 65% of SOL staked, the combination of growing DeFi usage and limited circulating supply could support further price growth.

However, not every metric points to continued upside. Solana’s overall stablecoin market capitalization dropped by 8% to $11.7 billion in the past seven days.

The high funding rate of 8% indicates that traders are paying a premium to hold long positions, which often precedes short-term price corrections.

Technical Indicators Show Mixed Signals

Solana is trading well above all major moving averages, with the 10, 20, 50, 100, and 200-day indicators all displaying “buy” signals, confirming the strength of the current uptrend.

The daily candle structure shows consistent closes above the Keltner Channel basis line, reinforcing strength in the current movement. SOL is trending near the upper band of the Keltner Channel, suggesting that a breakout attempt toward the $190-$195 range remains technically valid.

The presence of wide-bodied bullish candles since May 9, supported by increasing volume, highlights renewed buyer conviction. The Parabolic SAR at $154.80 remains well below the current price, indicating trend strength is intact.

However, bearish signals have begun to appear. The 4-hour chart analysis shows a clear bearish divergence forming in the $180-$185 range, which could signal buyer exhaustion.

The Relative Strength Index (RSI) stands at 71.83, indicating overbought conditions that may cap short-term upside potential. The Bollinger Bands are widening with SOL trading near the upper band, typically preceding a period of correction or consolidation.

Derivatives Data Points to Increased Market Interest

Coinglass derivatives trading data show increased capital inflows within Solana markets. On Tuesday, SOL open interest jumped 8.43% to $7.40 billion, showing new capital entering the market.

Although trading volume declined 18.26% to $16.13 billion, the rise in open interest suggests sustained positioning rather than short-term exits. Options markets also show a mild rebound, with open interest up 5.01% to $13.13 million.

Long/short positioning data shows a mixed picture. While some data sources indicate a bullish bias with long/short ratios of 2.31 on Binance and 1.65 on OKX, other metrics show short positions now outweigh longs, with a 30-day low ratio of 0.8653 (53.61% short vs. 46.39% long).

In the last 24 hours, $19.46 million in positions were liquidated, with $14.44 million from shorts and just over $5 million in long positions closed.

Immediate resistance for SOL lies near $185, while support is seen around $157 (20-day EMA) and potentially at $165, which analysts suggest could be retested if the current level fails to hold.

Should SOL price close decisively above its current resistance, momentum could accelerate toward the $195 mark or even the psychological $200 level if market conditions remain favorable.