US President Donald Trump is again getting much attention from the crypto community due to the upcoming meme coin dinner on May 22. The dinner invitees will be the largest holders of the TRUMP meme coin and include Tron founder Justin Sun. With only a day left to this event, the TRUMP meme coin price is already gaining with a 9% surge in 24 hours to trade at $14.38 at press time. In this article, we explore what to expect from this token’s performance before and after this event. Tron Founder to Attend Trump’s Meme Coin Dinner The number one attendee to this event is the founder of Tron, Justin Sun, who is also the largest holder of the TRUMP meme coin. Sun confirmed his attendance through an X post on May 20, saying that he is going to discuss crypto and the future of the industry. Justin Sun X… Read More at Coingape.com
Sonic publicly revealed that it ended its five-year partnership with Wintermute. A few hours prior, the market maker dumped over $850,000 in S tokens, causing a 6% price drop.
Wintermute was involved in a controversial token dump last month, but today’s events may be part of a normal business interaction. Sonic claimed no foul play, stating that the market maker sold token holdings to return loaned money.
Intel Scout, a Sonic ecosystem decoder, was the first to connect S’s price action with Wintermute’s token dumping. He claimed that the market maker sold around 3 million S tokens in 24 hours, and several other whales disposed of even more.
Sonic’s anonymous Head of Strategy responded to these claims, revealing that the companies had split ways:
24 hours ago, we informed @wintermute_t that we will not be renewing our MM contract. We have been using WM exclusively for 5 years of service.
We have engaged with other MM firms who are willing to provide MM++, they get involved in our DeFi ecosystem, engage with applications…
Sonic’s Head of Strategy went on to state that the company was in talks with several market makers to replace Wintermute.
Specifically, they claimed that CEX only support is “simply no longer enough,” and that this successor needs to proactively engage with Sonic’s DeFi ecosystem, community, apps, and developer team.
Even if Sonic and Wintermute had an amicable breakup, this is not the market maker’s first controversy. In January, the firm faced accusations of market manipulation after $20 million in transactions with Binance.
Nonetheless, today’s actions have not caused a similar scandal yet. If Sonic was dissatisfied with Wintermute’s actions, the company could’ve addressed this, but it didn’t.
It even gave a sympathetic reason for the token sales, explaining that Wintermute needed to return loaned funds. Wintermute, for its part, hasn’t said anything about the episode.
Solana price may be on the verge of a significant rally, with recent developments from DeFi Development Corporation (DDC) potentially fueling the upward momentum.
The company, formerly known as Janover Inc., has filed a $1 billion shelf offering with the U.S. Securities and Exchange Commission (SEC). This move suggests the company is preparing to raise substantial funds, which could have an effect on Solana’s price soon.
DeFi Development Corp.’s $1B Shelf Offering
DeFi Development Corp., a public company that has recently transitioned towards Solana, has caused some stir with its new filing with the SEC. The company plans to offer a shelf offering, for which it intends to seek up to $1 billion in funding. This type of offering enables a firm to offer securities for sale cumulatively and not at one instance in the market.
The filing outlines a variety of securities, including common stock, preferred stock, warrants, and debt instruments. The company also mentioned it could sell any combination of these instruments at an aggregate price of up to $1 billion.
DeFi Development Corp is one of the many numbers of publicly holding companies that are now targeting Solana. This approach entails investing and fixing their price in SOL in a bid that gives the investors an opportunity to invest directly in the tokens. This strategy is in line with other firms like Galaxy Digital that have also invested in Solana and are now staking to earn income. Due to this offering, DDC has raised a total of $34.4 million in SOL and this could be used to fund further acquisitions.
Solana’s Price Movement and Market Outlook
In light of this, with the entrance of institutional investors such as DDC for Solana, Solana price has attracted much attention. Forecasts based on the daily chart illustrate that Solana may be entering a period of increase in price.
Analyzing the market and the chart, there is evidence that SOL price is in the bullish trend with most of the indicators moving in the positive region.
SOLUSD 1-day price chart (Source: TradingView)
In line with this standing, based on Bollinger Bands, Solana price has lately been operating above the middle band hence signifying approval to the onset of the upward trend. Furthermore, the Moving Average Convergence Divergence (MACD) has a buy signal that is indicative of higher upside momentum. These factors imply that Solana price is poised to test the $200 level and will continue to rise further if there is an increase in demand.
Ongoing Activity in the Solana Ecosystem
In the broader Solana ecosystem, recent events have added to the optimism. For instance, large deposits of SOL have been made to exchanges, suggesting significant activity within the market.
According to Lookonchain, in the most recent transactions, Kraken received large amounts of Solana, 117,913 SOL ($18,26 million) from Pumpfun, which may indicate more fluctuations. Such activity might suggest that demand for Solana is still ramping up, particularly among institutional market participants.
Furthermore, Sol Strategies, another key player in the field, has also entered a $500 million funding agreement for Solana staking. This deal underpins the present institutional investment in Solana and expected growth in SOL price. Through collaboration between the former and the latter companies like DDC and Sol Strategies, Solana may experience further surge in the next few months.
PI Network bulls appear to be making a comeback, thanks to an improvement in overall market sentiment over the past 24 hours.
The token’s price has climbed by 4% in the past 24 hours, sparking speculation about whether a new bullish phase is about to begin.
Buy Pressure Builds in PI
PI’s 4% uptick has triggered a bullish crossover on its Moving Average Convergence Divergence (MACD). For context, the token’s MACD line (blue) has just crossed above its signal line (orange) for the first time since July 1, signaling growing bullish momentum.
The MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
As with PI, when the MACD line crosses above the signal line, it signals bullish momentum, suggesting that buying activity is increasing. Traders interpret this setup as a buy signal, which could add more upward pressure on the meme coin’s price.
While PI’s MACD and signal lines remain below zero because of its prolonged bearish trend, this crossover highlights a cooldown in selloffs as bulls attempt to regain market control.
Further, readings from the PI/USD one-day chart show its Balance of Power (BoP) at 0.61, indicating that buy-side pressure is gaining strength.
The BoP indicator measures the strength of buyers versus sellers in the market, helping to identify momentum shifts. When its value is negative, sellers dominate the market, with little to no buyer resistance.
Conversely, positive BOP readings like this suggest buyers dominate the market over sellers and drive newer price gains.
Can Buying Pressure Carry PI Across the Line?
PI currently trades below resistance at $0.477. If demand climbs, the altcoin could flip this barrier into a support floor, propelling its price toward $0.508.
However, for PI to sustain this upward momentum and push toward higher resistance levels, there must be a significant influx of new demand to absorb the existing supply.
Without fresh buying pressure, the current rally could quickly lose steam. In that case, PI risks slipping back into its previous consolidation range—or worse, falling toward the $0.445 support level.
