Solana, a speedy cryptocurrency network, is facing some troubles! Recently, lots of new, silly cryptocurrencies called 'meme coins' appeared on Solana. Some of these were scams, causing many people to lose money. This has made the price of Solana's own cryptocurrency (SOL) go down quite a bit.
- Many meme coins on Solana turned out to be scams.
- People lost over $26 million because of these scams.
- The price of SOL dropped a lot – 32% in just four weeks!
- Solana is also experiencing network slowdowns.
| Cryptocurrency | Price Change (last 4 weeks) |
|---|---|
| Solana (SOL) | -32% |
| Bitcoin (BTC) | -10% |
| Ethereum (ETH) | -15% |
Some experts are worried, but others think Solana might recover. It's a bit uncertain what will happen next!
