$SOL
🚨The trend of the price of SOL (Solana)🚨
For SOL, the native cryptocurrency of Solana, the situation is different, because unlike XRP, it is a volatile crypto that often moves sideways only for relatively short periods.
Suffice it to say that between 2022 and 2024, while XRP was moving sideways between $0.3 and $0.6, the price of SOL went from a bottom below $10 to $192 in March of last year.
It should be remembered, however, that during the great bull run of 2021 it had reached almost $240, therefore the collapse during the bear-market of 2022 was truly remarkable.
One of the main reasons behind the sustained volatility of SOL is the fact that Solana is the ecosystem where more memecoin now proliferate.
Everything started in particular at the end of 2023 thanks especially to the memecoin Bonk. The price of SOL, which until September had remained around $20, in just two months had already jumped above $50, and by December it had already also risen above $100.
In October, before the Trump-trade, it was hovering around $140, but in November it entered a new bullrun, which lasted only two months, bringing it to the new all-time high of almost $300 just the day after the announcement of the launch of the official Trump on Solana.
Then, however, as always happens, the memecoin market after the pump recorded an evident dump, ending up bringing the price of SOL even just above $100 in April of this year.
The volatility is such that even though it returned below the October levels, it subsequently already marked a clear rebound that brought it back to the current $164.
To tell the truth about rebounds, after April, there have been two, and both seem to have succeeded only halfway.
The first, in May, managed to bring the price back above $180, but once it ended, the price fell back to $130. The second, in July, allowed the price to recover to $200, but only for a brief moment.