Hey kids! Ever heard of Solana (SOL), a type of cryptocurrency? Recently, things have been a bit bumpy for Solana. Lots of new, exciting, but sometimes risky, cryptocurrencies called 'memecoins' popped up on Solana, making it super popular for a while. But now, some of those memecoins aren't doing so well, and people are worried.
- Some memecoins, like Bonk and Dogwifhat, were super popular but lost a lot of value quickly.
- Another memecoin, Libra, lost billions of dollars in just hours!
- Even a memecoin related to President Trump lost a lot of money.
- Because of these problems, some people are selling Solana, which is making its price go down.
| Cryptocurrency | Problem | Money Lost (approximately) |
|---|---|---|
| Libra (LIBRA) | Sudden crash | $4.4 billion |
| Trump (TRUMP) | Insider selling | $53 billion |
| Solana (SOL) | Memecoin fallout | Price down 6% |
Solana is still making money, though, but the problems with these memecoins have made people nervous.
