Wow, what a big move! A DeFi protocol on Solana is on a mission to buy its own tokens, and this isn't the first time it's done so! And now, everyone is wondering if the 76% profit party will happen again.
Look at this, my people! Orca, a decentralized exchange (DEX) on the Solana network, has surged by 16.85% in just 24 hours. That's almost 20 times more than the entire crypto market grew! 🤯 But what really happened? It wasn't magic; it was a master move that has everyone analyzing every last detail.
The key move was the proposal from its DAO (that's the assembly of token owners) to use a huge sum, 55,000 SOL and 400,000 USDC, to buy back its own ORCA tokens. Why is this so powerful? Imagine a company decides to buy back its own shares to take them off the market. That's exactly it! With fewer tokens available, the price goes up purely due to scarcity. 📈
And this is not just a made-up story. They did it back in April 2025, and the result was a profit party of 76.8%. So, the announcement that they want to repeat the move has people’s expectations sky-high.
But it's not just the buyback. Technical analysts, those who study the charts, saw that the price of ORCA broke an important barrier ($2.68) and that the strength meter (RSI) has room to keep rising non-stop. It's like a car that just left the gas station with a full tank. 🚗💨
And, to top it off, all of this is happening on the Solana network, which is breaking records with crazy transaction volumes. Orca, being one of the big players in that ecosystem, is taking its fair share of the pie. 🍰
So, what's next? Everyone is keeping a close eye on the DAO vote, expected on August 13. If the proposal passes and the tokens are burned, we could see another historic rally. But, beware! Traders might also take the opportunity to sell and cash in profits near $2.90. The party is great, but you always have to be alert to who leaves the dance floor before the music stops.
Will history repeat itself for ORCA or will it be a water bubble? We will have the answer very soon. ⠀
