Introduction
Solana (SOL) is struggling to stay strong as trading volume falls to its lowest level in five weeks. Just a few months ago, Solana’s memecoin boom brought excitement and huge price gains. But now, that hype seems to be disappearing fast, making it harder for SOL to recover. At the moment, SOL is priced at $163.99, and many are wondering: Will Solana bounce back, or is more trouble ahead?
Memecoins Are Losing Popularity – What Does This Mean for Solana?
Solana’s trading volume has dropped a lot, showing that fewer traders are buying and selling. Back in November, Solana’s total transfer volume was $2 billion, but now it has dropped to just $26 million.
This big drop is happening because memecoins are not as exciting as before. Just a few months ago, memecoins like LIBRA, TRUMP, and MELANIA were booming, bringing a lot of attention to SOL. Now, many of these coins have lost their value, and investors are moving away from them.
For example, the memecoin LIBRA once hit a high of $4.563 but then crashed by 96.63% to just $0.336. At the same time, its trading volume fell from $963.6 million to just $3.6 million, proving that the excitement is dying down fast.
With less money flowing into memecoins, Solana is struggling to hold its price and could face even more selling pressure.
Bearish Sentiment Surges as Traders Lose Interest
Not only is Solana’s trading volume dropping, but fewer people are talking about it online. A report from LunarCrush shows that Solana’s social activity is down 69%, making it one of the least talked-about cryptos right now. When fewer people talk about a token, it usually means less interest from traders and investors. Without fresh excitement, it becomes harder for the price to recover. If interest in SOL doesn’t pick up soon, the price could continue to drop, as fewer traders are stepping in to buy and push it back up.
FTX’s Token Unlock Could Bring Even More Selling Pressure
As if things weren’t already tough for SOL, a huge event in March could make things worse. On March 1st, 11.2 million SOL will be unlocked and released into the market. This means that a lot of new SOL tokens will be available for sale, which could push the price down even further. Usually, when a lot of tokens enter the market at once, the price drops—especially if there aren’t enough buyers. Since trading volume is already at a low, this FTX token unlock could add even more selling pressure, making it even harder for SOL to bounce back.
Conclusion: Will Solana Recover or Keep Dropping?
Right now, Solana is in a tough spot—low trading volume, less social activity, and a huge token unlock coming soon. If buyers don’t step in quickly, SOL’s price could keep falling. SOL needs fresh excitement and new buyers to recover. If memecoin hype comes back or a big event boosts interest, SOL could stabilize and climb back up. But if market conditions stay weak, the price could fall even lower. With millions of new SOL tokens about to hit the market, SOL is facing a big test—will it survive or drop even more?
