Solana's SOL token recently faced an 8% drop after hitting $147, struggling to regain the $150 mark. This has raised questions about whether the bullish momentum, initially driven by memecoin hype and AI sector growth, is waning. Analysts suggest SOL could benefit from a potential Solana spot ETF approval and the expansion of tokenized real-world assets on its network. However, declining DApp revenues and increased competition from other blockchains like BNB Chain are concerns. Despite these challenges, Solana's unique user experience and decentralization remain strengths.