The "Meme Coin Carnival" of Solana has cooled down, and the price is a bit precarious!

Recently, SOL has been having a tough time! The price is stuck around 144 dollars, down 8% in a week. The core issue: the on-chain activity has cooled!

Meme Coins have cooled down: Previously popular on the Solana chain, coins like Dogecoin and Catcoin, the so-called "Meme Coins", have seen a dramatic drop in interest! Their total market capitalization has fallen below 10 billion dollars, with the top few dropping more than 10% over the week, and trading volumes are very quiet. The minting tool PumpFun has reached a new low in trading volume in 9 months! This was an important engine that drove SOL's rise; now that the engine has stalled, can SOL not be shaky?

DeFi has also shrunk: The total value locked on-chain has suffered even more, dropping from a peak of nearly 20 billion at the beginning of the year to just 8.3 billion! The stablecoin market cap has also dropped from 13 billion to 8.3 billion. What does this indicate? Real money is fleeing, and there are fewer players and less money involved. Looking at these numbers, I can't help but feel a bit anxious for SOL.

The overall environment is unfavorable: The current global situation is tense, and funds are flocking to hold onto Bitcoin, while riskier altcoins are generally being neglected. The "Altcoin Season Index" is only at 20, clearly a "Bitcoin time", making it difficult for SOL to make a comeback.

Summary: The Meme Carnival has ended, on-chain activities have plummeted, TVL has shrunk severely, and SOL is under significant price pressure! Although institutions are positioning themselves, the retreat of retail enthusiasm poses a tangible risk. Is this really the bottom before the storm? It's hard to say!

Have you seen through this adjustment of SOL? On-chain data doesn’t lie!

Follow me, and I'll help you cut through the market noise and see the truth in the crypto world! Next time, you'll know where to buy low and sell high without getting lost! $SOL #波段交易策略