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Solana’s Market Woes Continue With A 32% Monthly Drop
The post Solana’s Market Woes Continue With A 32% Monthly Drop appeared on BitcoinEthereumNews.com. Este artículo también está disponible en español. Solana’s recent price behavior has sparked anxiety in the the digital currency market. The once-soaring blockchain has fallen significantly as a result of a widespread slump. Solana native token (SOL) has been down 32% in the last four weeks, trailing Bitcoin’s 10% decline and Ethereum’s 15% dip. As the network suffers with the fallout from a meme currency frenzy that left investors reeling, a sudden sell-off occurs. Related Reading Meme Coin Mania Turns Into Disaster Solana has been the epicenter of an explosive meme coin growth. Although this initially stimulated trading volume and interest, it has since led to severe negative repercussions. Rug pulls and failed initiatives on the network have reportedly resulted in a loss of more than $26 million. Many developers abandoned projects immediately after raising funds, leaving investors with tokens that were of no value. The issue has escalated at an alarming rate. In the span of 30 days, the Solana ecosystem has lost at least 12 meme coin initiatives. The token’s price has declined as a result of this surge of failures, which has also negatively impacted investor sentiment. It’s over for Solana Worse than the FTX collapse$LIBRA, #MELANIA changed everything ????: Here’s what went down and what’s next… pic.twitter.com/mo6TMBpift — Xremlin (@0x_gremlin) February 17, 2025 Is Solana In Trouble? Crypto trader Xremlin recently declared on X that “it’s over for Solana,” comparing its decline to the FTX collapse—only worse. He pointed out that Solana’s recent surge in popularity was driven by speculation and the rise of meme coins. Much of this activity stemmed from low transaction fees, attracting traders to platforms like Pump.fun. However, many of these tokens are seen as pump-and-dump schemes, adding to the negative sentiment around Solana’s ecosystem. Ray Of Hope? Meanwhile, Glassnode data indicates…
The post Solana’s Market Woes Continue With A 32% Monthly Drop appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. Solana’s recent price behavior has sparked anxiety in the the digital currency market. The once-soaring blockchain has fallen significantly as a result of a widespread slump. Solana native token (SOL) has been down 32% in the last four weeks, trailing Bitcoin’s 10% decline and Ethereum’s 15% dip. As the network suffers with the fallout from a meme currency frenzy that left investors reeling, a sudden sell-off occurs. Related Reading Meme Coin Mania Turns Into Disaster Solana has been the epicenter of an explosive meme coin growth. Although this initially stimulated trading volume and interest, it has since led to severe negative repercussions. Rug pulls and failed initiatives on the network have reportedly resulted in a loss of more than $26 million. Many developers abandoned projects immediately after raising funds, leaving investors with tokens that were of no value. The issue has escalated at an alarming rate. In the span of 30 days, the Solana ecosystem has lost at least 12 meme coin initiatives. The token’s price has declined as a result of this surge of failures, which has also negatively impacted investor sentiment. It’s over for Solana Worse than the FTX collapse$LIBRA, #MELANIA changed everything ????: Here’s what went down and what’s next… pic.twitter.com/mo6TMBpift — Xremlin (@0x_gremlin) February 17, 2025 Is Solana In Trouble? Crypto trader Xremlin recently declared on X that “it’s over for Solana,” comparing its decline to the FTX collapse—only worse. He pointed out that Solana’s recent surge in popularity was driven by speculation and the rise of meme coins. Much of this activity stemmed from low transaction fees, attracting traders to platforms like Pump.fun. However, many of these tokens are seen as pump-and-dump schemes, adding to the negative sentiment around Solana’s ecosystem. Ray Of Hope? Meanwhile, Glassnode data indicates…
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