SOL Slides 5.34% Amid $3.16B Volume as Volatility, Liquidations Follow Strong Weekly Rally

Solana (SOL) is currently trading at $165.17 on Binance, reflecting a 5.34% decline over the past 24 hours, with a 24-hour trading volume of approximately $3.16 billion and a market capitalization of around $87.38 billion, ranking it #6 among cryptocurrencies. The recent price drop follows a period of heightened volatility, including significant long position liquidations at the $174.22 level and a broader pullback after a strong weekly rally driven by increased on-chain activity, memecoin interest, and renewed institutional attention. Despite the short-term correction, Solana maintains robust ecosystem fundamentals and high network engagement, though some analysts note that waning momentum in speculative segments like memecoins may be contributing to the current retracement.