Can Solana Price Break Out To $400 As Capital Floods Into Pump fun ICO

Key Insights:

• A symmetrical triangle on Solana price suggested a potential breakout toward the $375–$400 range.
• Solana raised $600M in 12 minutes via Pump.fun with no bankers and 10,145 wallets participating.
• 75.2% of the capital in the Pump.fun ICO was raised directly on the Solana blockchain network.

Solana (SOL) price accumulated close to a breakout point, as on-chain metrics improved with a record-breaking fundraising event.

Such a technical structure, accompanied by the decentralized approach to fundraising, got the attention of investors and analysts alike, with a target set at $400.

Solana Price Symmetrical Triangle and Bullish Setup

A long-term symmetrical triangle pattern formed Solana price daily chart. The ongoing altcoin price movement was compressed between converging trendlines, where the peak was approaching.

Remarkably, these kinds of formations usually result in powerful directional movements. Solana price had approached the upper and lower limit, whereas previously it was less sensitive to outside catalysts.

At the time of analysis, Solana price was trading slightly below the upper resistance of the triangle. Compression of price volatility suggested that, should the SOL breakout get confirmed, it could be the start of a major directional move.

Consequently, the projected technical targets of a successful breakout suggested that the $375 to $400 level could be approached. This level coincided with historical resistance-turned-support levels and historical highs.

Solana’s Pump.fun Raises $600M

Meanwhile, a recent fundraising event on the Solana blockchain through Pump.fun has brought attention back to the network’s efficiency.

According to a post from the official Solana account, the campaign raised $600 Million in just 12 minutes.

The funding process occurred entirely on-chain, without assistance from traditional financial institutions or market intermediaries.

Additionally, this development occurred outside traditional financial hours, while Wall Street was closed.

It demonstrated how blockchain platforms like Solana are used for capital formation at any time, unrestricted by centralized systems.

Over 10,000 Wallets Participated in the Raise

As reported by Blockworks Research, the ICO resulted in 10,145 unique wallet addresses. This was an indication of distributed ownership and a diluted concentration of capital.

The largest share of contributions came from users investing between $100 and $1,000, reflecting grassroots-level involvement.

Besides, the average contribution was $539, which also showed that retail users comprised the highest percentage.

A very narrow portion of addresses made contributions exceeding $100K. This allocation emphasized that blockchain fundraising may be more inclusive than traditional fundraising.

75.2% of the Funds Raised on the Solana Network

According to the report, 75.2% of the total amounts were raised on the Solana blockchain itself. This indicator showed that capital formation became more on-chain, with scalable infrastructure.

Such an event required the technical backing of Solana due to its capability to support large volumes of transactions.

Furthermore, the on-chain infrastructure not only lessened the dependency on intermediaries but also enabled the complete transparency of the fundraising procedure. Every donation was made on-chain, and one could check transactions live.

Hence, the intersection of technical chart patterns and on-chain adoption has positioned Solana price at a critical point.

If the altcoin price action breaks above the triangle resistance and sustains volume, the target range between $375 and $400 is technically possible.

Meanwhile, recent analysis revealed that Solana price was rising with institutional inflows reaching a high of $78 Million.

Moreover, active addresses reached nearly 16 million per day, and netflows were stable. This was a sign of rising confidence by both retail and institutional investors.