Solana's price is 52% below its all-time high, with a recent 40% drop in TVL and risks of further declines ahead.
Solana's Total Value Locked Crisis
Solana's TVL has decreased by 39.2% over the past month, with Raydium experiencing a 53% drop. The declining TVL correlates with decreasing network activity and liquidity.
Decline of Solana Meme Coin Market
The Solana meme coin market has suffered significant losses, with market cap down 68% since December 2024. DEX activity on Solana has significantly declined.
Technical Outlook for SOL Price
Technical analysis shows a double-top pattern, potentially leading to a price drop to $110. However, levels above $110 might provide support for a potential rebound.
The current situation with Solana is concerning for investors, and further price movements are likely in the near future.