Solana, a cryptocurrency, is having a tough time! It's been going down in price lately, and people are worried. This is partly because of 'meme coins,' which are cryptocurrencies that become popular quickly but can lose value just as fast.
- Meme coins caused Solana's price to go up a lot before.
- Now, meme coins are causing Solana's price to go down.
- A recent scam with a meme coin called LIBRA made things worse.
- People are selling Solana, making the price drop even more.
| Fact | Number |
|---|---|
| Solana's price drop in the past week | 10% |
| Solana's price drop since January | 40% |
| Drop in DEX trading volume last week | 25% |
| Raydium DEX volume drop last week | 47% |
| SOL tokens unlocking on March 1st | 11.2 million |
Experts are watching closely to see if Solana can recover. It's a risky time for Solana!
