Why has $SOL performed poorly in the latter half of the bull market?
The reason is simple: the first half was driven by MEME projects, while in the second half, these trends instead dragged it down.
In the first half, MEME projects like $PUMP , $BONK , and ORCA exploded in popularity, with players eagerly participating in new investments using SOL, hoping to hold for long-term gains.
However, by the second half, project teams began to cash out on a large scale, and players started realizing profits, selling SOL. Old whales, sensing the situation, also joined the selling frenzy. The triple selling pressure rendered SOL immobile.
More critically, Wall Street's money is all bet on ETH, and only when ETH temporarily stops rising and adjusts will funds briefly flow into SOL.
The result is that every time SOL rises, it faces a market correction, and when the market drops, SOL drops even harder, with rebounds failing to break previous highs, creating a vicious cycle.
Now, the only hope for the market is SOL ETF, which might bring about a true counterattack in this round of the market.
