Meme coins, often driven by online trends and celebrity endorsements, present significant investment risks due to their extreme volatility and lack of intrinsic value.

These digital assets can experience rapid price surges followed by swift collapses, leading to substantial financial losses for investors.

Solana ($SOL ), its recent price decline can be attributed to several factors. The collapse of the meme coin frenzy, along with a broader decline in the digital asset market, has contributed to Solana’s sharp price drop. 

Additionally, the upcoming token unlock related to the FTX estate has created anticipation of increased selling pressure, further influencing the downward trend.