Solana has been on a wild ride recently, surging more than 10% from $180 to $200 in 3 days. This all happened before an overnight sell-off saw SOL retrace the entire move. With the market on a slight dip, many traders are wondering, ‘What is the best crypto to buy right now?’
SOL is 37% away from its all-time high of $293, which was reached back in January of this year, with many analysts calling for Solana to hit $700 or more at the peak of this bull market.
SOL Liquidations Hit $58 Million In 24-Hours As Bulls Get Rekt
Liquidations on SOL reached $58 million in 24 hours, according to data from CoinGlass. Only $3.68 million in shorts were liquidated while longs saw $54.3 million wiped out. This came after open interest (OI) on Solana hit an all-time high of $12 billion.
Additionally, funding rates reached their highest point in the past quarter, pointing to an overcrowded long trade. The elevated funding and OI levels created the perfect setup for a long squeeze, forcing over-leveraged traders to exit positions under pressure.
While the sudden 9% drop in SOL may raise short-term concerns, it follows a substantial 56% rally over the past 30 days. Such a pullback is often a healthy reset, especially after aggressive upside momentum. Technically, the daily chart remains constructive, with $180 emerging as the key support for bullish continuation.
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SOL confirmed a bullish break of structure earlier this week by reclaiming the $180 level, marking the first major bullish trend shift on the one-day time frame since November 2024. This shift resulted in a near 12% rally to $200 before this retrace.
This break in structure also triggered a golden cross between the 50-day and 200-day exponential moving averages (EMAs), a classic bullish signal. The last time SOL saw this crossover, the price surged over 730% between October 2023 and March 2024.
As long as SOL can hold support at around $180, it would reinforce bullish momentum and keep the structure intact. However, failure to defend this level could open the door for a deeper correction toward the $157–$168 zone.
At this level, SOL may represent one of the best crypto to buy right now, with nearly 40% in gains on the table just for Solana to return to all-time high levels before entering price discovery.
Price May Be Down, But Solana Tech Is Getting Better And Faster
🚨BREAKING: @Solana is set to further raise block capacity from 60M to 100M CUs under SIMD-0286, a 66% increase. This follows yesterday's 20% jump to 60M at epoch 822. According to core engineer @anza_xyz, the upgrade could be implemented today pic.twitter.com/6tGJCHJfit
— SolanaFloor (@SolanaFloor) July 23, 2025
The Solana Foundation has confirmed an increase in its block limit from 50 million to 60 million Compute Units (CUs). This upgrade was made possible through the SIMD-0256 proposal, led by validator Andrew Fitzgerald and receiving widespread support from the Solana community.
This enhancement in network throughput allows Solana to process more transactions per block, thereby supporting the development of high-traffic applications, particularly in decentralized finance (DeFi) and gaming.
With fewer delays and lower transaction fees, Solana solidifies its position as a leading competitor to Ethereum. There is also increasing momentum to further scale Solana blocks to 100 million CUs by the end of the year, provided that performance remains stable.
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BONUS: Is Snorter Bot (SNORT) The Best Crypto To Buy Right Now?
As the market experiences a slight dip, Snorter Bot (SNORT) stands out as one of the best cryptocurrencies to buy right now, especially since it is still in presale and not directly impacted by market volatility.
Snorter Bot is quickly becoming a must-have trading tool due to its utility. It has established itself as the leading Telegram trading bot in the industry. This multi-chain-ready bot offers SNORT holders competitive trading fees of just 0.85%. This makes it more affordable than its competitors, such as Trojan, BONKBot, and Banana Gun, from day one.
Snorter Bot enters a market where established competitors—like BONKbot, Banana Gun, and Trojan—generate annual fees between $40 million and $80 million. This highlights the significant potential for Snorter to become the trading bot with the lowest costs available.
Since its ICO launched, Snorter Bot has now raised over $2.3 million in just over a month, demonstrating strong investor interest in a project that combines the appeal of a meme coin with practical utility.
The bot comes equipped with built-in MEV protection, an innovative sniper tool, and a copy-trade function. This allows users to follow their favorite wallets and influencers, and acquire low-cost tokens during exciting new launches.
Although SNORT will initially be available only on the Solana network, it is designed with multi-chain capabilities in mind, with plans to support Base, Ethereum, and other prominent blockchains soon.
Prominent YouTuber CryptoJune (10k subs) believes that SNORT could be the next 100x play, potentially making it the best crypto to buy right now.
Investors looking for passive income from their SNORT presale holdings can stake their tokens for an impressive 177% APY. This provides an excellent opportunity for traders to earn passive income while awaiting the conclusion of the Snorter Bot ICO.
Currently, there are just under two hours remaining until the SNORT presale moves to the next price stage. Once the timer hits zero, the current price of $0.0991 will no longer be available.
Visit SNORT HereEXPLORE: Best Meme Coin ICOs to Invest in 2026
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