$SOL ⚠️ Solana (SOL): From Rocket Fuel to Freefall – My Wild Ride with $SOL 🚀📉
I remember the thrill when Solana (SOL) hit its all-time high of $295 in January 2025. It felt like the blockchain was unstoppable. But now, SOL is trading at $146.71, down over 50% from its peak.
BitcoinEthereumNews.com
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Cointelegraph
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Coin Surges
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So, what happened?
🔥 Reasons Behind the Decline
Token Unlocks & Market Flooding
On March 1, 2025, 11.2 million SOL tokens worth $1.7 billion were unlocked, increasing supply and putting downward pressure on the price.
Memecoin Meltdown
The collapse of the LIBRA memecoin, which had a market cap of $25 billion in December 2024, has shaken investor confidence in Solana.
Network Activity Slump
Solana's Total Value Locked (TVL) has dropped from $12 billion to $7.13 billion, and decentralized exchange (DEX) volumes have plummeted by 30%.
Whale Manipulation Concerns
Large holders are reportedly shorting SOL, leading to forced liquidations and further price declines.
💡 Is There Hope?
Despite the downturn, some analysts believe SOL could bounce back if it holds the $130 support level. However, if it falls below $120, a further 35% drop could be on the horizon.
Holder
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BitcoinEthereumNews.com
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Crypto News
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🧠 My Take
The crypto market is volatile, and Solana's current challenges are a reminder of the risks involved. While the future remains uncertain, this could be an opportunity for those willing to weather the storm.
