Solana’s Price Plunge: Will SOL Go Down Faster Than a Lead Balloon? 🎈

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Well, well, well! Look who’s back in the news! It’s our old friend Solana!
SOL is currently strutting around at a whopping $128.2! 💸

But wait! What’s this? A little birdie told me that the 24-hour volatility is a mere 1.3%! Talk about a rollercoaster ride that’s lost its thrill! 🎢

And the market cap? A staggering $65.87 B! That’s a lot of zeros, folks! But don’t get too comfy, because the volume in the last 24 hours is just $2.92 B. Yikes!

Now, let’s get to the juicy part! Solana’s price has taken a nosedive, dropping another 3.5% today! It’s like watching a bad magic trick where the rabbit just won’t come out of the hat! 🎩🐇

After peaking in January 2025, SOL has been hitting lower lows like a bad stand-up comedian. Currently, it’s hanging on by a thread at the multi-month support level of $125, keeping traders on the edge of their seats like they’re watching a horror movie! 👻

Could Solana Price Crash 95%? Hold onto Your Hats! 🎩

Our favorite crypto analyst, Ali Martinez, recently pointed out that the SuperTrend indicator has flipped bearish for Solana (SOL) on the weekly chart. And guess what? The last time this happened, Solana took a dive of 95%! Talk about a dramatic exit! 🎭

The last time the SuperTrend indicator flipped bearish on the weekly chart, #Solana $SOL saw a 95% drop!

— Ali (@ali_charts) March 16, 2025

So, if you’re holding SOL, you might want to brace yourself! It could plummet to under $10! I mean, who doesn’t love a good bargain? 🤑

Solana Network Activity: Where Did Everybody Go? 👀

According to the Dune dashboard Pump.fun, Solana’s price slump is perfectly in sync with a significant drop in on-chain activity. On March 17, Solana’s daily network transactions fell to 24,505! That’s a far cry from the all-time high of 71,738 recorded on January 23. It’s like a party where everyone left before the cake was served! 🎂

This drop in user engagement is like a bad breakup—nobody wants to pay those transaction fees anymore! 💔

And let’s not forget about Solana’s total value locked (TVL) in its DeFi applications. It’s been on a downward spiral since mid-January! 📉

From a peak of $12.1 billion on January 19, it fell to $6.63 billion by March 11. As of March 17, it’s sitting at $7 billion. That’s a 41% decline! Ouch! 😱

SOL Funding

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2025-03-17 17:52