Solana Price Drop Alert- 40% Crash by The Nest Week?

The negative streak for Solana continues. This week, SOL dropped to an unimaginable $200. Hence marking a drop of 35% from its annual high. In the next month, the fall could be 40%.  

Solana Monthly Picture 

Solana started January on a great note. After reaching a genuine high of $295, the inheritable fall started. Not only this crypto, but the ecosystem of the whole industry is bearish now.  

In February, the retreat seems common to all stablecoins and meme coins. Bitcoin has also fallen from an annual high of $110,000 to less than $100,000. Naturally, user sentiments around altcoins also took a hit.  

CoinGecko posted-  

“all Solana meme coins are faltering from the start of this month. The net market cap of SOL was $25 billion in January. On the 6th of Feb, it came down to $12 billion.” 

Most popular meme coins of SOL like Fatcoin, Bonk, and others dropped more than 30% in the last month.  

SOLANA’s Downfall Cementing 

More bad news is en-route for Solana. In the last 3 days, investors have sold meme coins in record numbers. As a result, the exchange trading volume also depleted. More about the week-by-week drop in trading volume for all SOLANA assets dropped by 25%.  

Solana’s Recovery Chances 

Developments in the crypto world are always unpredictable. Taking that cue, investors are wishful for the speedy recovery of SOLANA’s price. 

There is still $217 million in short positions. Factors like optimistic ETF trades are keeping Solana alive. 

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