Investors who stumbled into SOL at the low of $8.50 and sold for more than $200 reaped huge profits. However, the value of the coin declined after Bitcoin's volatility and the hype around Solana's meme coins diminished.

Despite these setbacks, Solana's Relative Strength Index (RSI) stabilized at 48 after indicating an overbought condition, anticipating either a potential decline towards 30 or a rebound to an overbought condition. Notably, the total value locked (TVL) in the Solana ecosystem has risen above $4 billion for the first time since April 2022, demonstrating the growing interest.