Solana Price Prediction: Chinese Fashion Giant Buys Millions of SOL – Can SOL Overtake Bitcoin?
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Shares of Nasdaq-listed Chinese fashion retailer Mogu (MOGU) surged as much as 76% on Thursday after the company announced a $20 million purchase of Bitcoin, Ethereum, and Solana.
The online apparel platform, which went public in 2018, said the move was part of its strategy to diversify its treasury and integrate digital assets into its operations for “next-generation AI products and services”.
🚨JUST IN: MOGU Inc. (NYSE: MOGU), a China-based online fashion and lifestyle platform, has approved a strategic allocation of up to $20M into digital currencies, primarily Bitcoin, Ethereum, and Solana, along with related securities and products. pic.twitter.com/ZvZwqzAWjv
While Bitcoin and Ethereum dominate corporate treasury buys, Mogu’s inclusion of Solana (SOL) stands out.
As the sixth-largest cryptocurrency, Solana is positioned as a faster, lower-cost alternative to Ethereum for building decentralized applications.
A corporate buyer adding SOL alongside BTC and ETH signals growing institutional recognition of the asset.
Solana Price Analysis: What’s Next?
At press time, SOL trades at $237.94, showing strong momentum. The token recently broke out of an ascending wedge and faces resistance near $270.
A confirmed breakout above this level could set up a rally to $500 (108% upside), with the longer-term target at $1,000 (320% upside).
Source: TradingView
If momentum fails and rejection occurs at resistance, SOL could retrace toward the $150 support zone before attempting another push higher.
Indicators remain favorable as the RSI sits at 69, near overbought but not extreme, while MACD momentum leans positive.
Can SOL Overtake Bitcoin?
Despite Solana’s strong growth and institutional adoption, overtaking Bitcoin remains unlikely in the near term. Bitcoin’s market dominance and status as a corporate treasury standard give it an entrenched lead.
However, Solana’s addition to treasury portfolios suggests it may increasingly be seen as a complement to BTC and ETH, particularly for firms exploring Web3 and AI integration.
SOL Eyes Bitcoin’s Throne – $SNORT Presale Heats Up as Trading Bots Go Mainstream
With SOL seeking to flip BTC, Snorter Bot ($SNORT) is emerging as a next-generation trading assistant designed to bring speed, simplicity, and precision to the world of crypto trading.
Having already raised an impressive $3.8 million in its ongoing presale, Snorter Bot boasts a vibrant and growing community.
Embedded directly within Telegram, the bot allows users to spot, snipe, and manage on-chain tokens in a matter of seconds – all without leaving the chat.
Its initial focus is the Solana ecosystem, known for ultra-fast transactions, but the roadmap extends to Ethereum, BNB Chain, and other EVM-compatible networks.
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