{"id":20552,"date":"2025-04-04T07:46:45","date_gmt":"2025-04-04T07:46:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20552"},"modified":"2025-04-04T07:46:45","modified_gmt":"2025-04-04T07:46:45","slug":"solanas-sol-could-see-nearly-6-price-swing-as-whales-dump-coins-before-u-s-jobs-data","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20552","title":{"rendered":"Solana’s SOL Could See Nearly 6% Price Swing as Whales Dump Coins Before U.S. Jobs Data"},"content":{"rendered":"
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Solana’s SOL<\/a> token is poised for a potential price swing of almost 6% after some large investors, or whales, dumped their holdings ahead of the U.S. non-farm payroll (NFP) report due later Friday.<\/p>\n

This estimate comes from Volmex’s one-day implied volatility index (IV) for SOL. At press time, the index showed a one-day reading annualized at 109.70%, indicating an expected 24-hour price volatility of 5.74%. (The daily figure is derived by dividing the annualized volatility by the square root of 365, the number of trading days in a year.)<\/p>\n

A movement that size represents moderate volatility, especially considering that the cryptocurrency has experienced several days of 6% or higher volatility since early March, according to data from CoinDesk.<\/p>\n

In other words, the market is likely to be volatile, but nothing out of the ordinary.<\/p>\n

Whale selling<\/h2>\n

Data tracked by blockchain sleuth Lookonchain shows several whales unstaked<\/a> and dumped SOL worth $46.3 million into the market.<\/p>\n

Large offloading of coins by whales often leads to bearish price action. However, the amount sold early today equates to 0.97% of the cryptocurrency’s 24-hour trading volume of $4.7 billion.<\/p>\n

So, it’s no surprise that SOL is trading little changed at around $116, having printed a low of $112 on Thursday. Broadly speaking, the cryptocurrency has been in a downtrend since reaching a high of $295 on Jan. 19.<\/p>\n

Focus on payrolls<\/h2>\n

The U.S. jobs data, scheduled for release at 12:30 GMT, is forecast to reveal that the economy added 130,000 jobs in March, slowdown from February’s 151,000 and well below the 12-month average of 162,300, according to FactSet<\/a>.<\/p>\n

The median estimate for the jobless rate for March is is 4.2%, the highest since November and up from February’s 4.1% reading. Average hourly earnings are forecast to have risen 0.3% month-on-month, matching February’s pace.<\/p>\n

A weaker-than-expected figure will likely validate renewed pricing for four 25-basis-point interest-rate cuts this year, potentially sending risk assets, including cryptocurrencies, higher.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Solana’s SOL token is poised for a potential price swing of almost 6% after some large investors, or whales, dumped their holdings ahead of the U.S. non-farm payroll (NFP) report due later Friday. This estimate comes from Volmex’s one-day implied volatility index (IV) for SOL. At press time, the index showed a one-day reading annualized […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20552","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20552"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20552\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}