Solana Price broke to a critical level of support and is at risk of further decrease after the formation of the death cross.
SOLANA (SOL), one of the best cryptocurrencies, fell to $ 138, 53% from the highest level this year.
This accident coincided with the ongoing problems in its ecosystem, since most coins of memes plunged. Coingecco data show that the market capitalization of all Solana Meme coins has been divided from more than $ 25 billion in January to $ 7.6 billion.
The official Trump (Trump), the largest Solana Meme coin, has fallen by 10% over the past seven days, which gave him a market capitalization of $ 2.4 billion.
Other memes, such as Bonk, Dogwifhat, Pudgy Penguins and Fartcoin, all over 20% in the last seven days slipped by 20%. It is noteworthy that only the official Trump Mebe coin has a market capitalization of more than $ 1 billion.
Over the past few weeks, Solan coins have become toxic assets after some loud explosions. The most outstanding was the scales, which reached the market capitalization of more than $ 4 billion after it was increased by Havier Miles, and then crashed.
SOLANA Price was not increased from the prospects to be included in the crypto -prisoner of President Donald Trump. A Polymarket survey with assets of $ 301,000 shows that the chances of Solan’s strategic reserve fell to 25% with more than 40% at the beginning of this month.
On the positive side, there are growing chances that the securities and exchanges commission will approve the point Sol ETF at the end of this year. These chances jumped up to 86% on the polymarket.
Further decrease?
The daily diagram shows that the price of SOL has been in a cool tendency to decrease over the past few months. Today he fell from 300 to 140 dollars.
Sol crashed below the ascending trend line, which connects the lowest swing since August last year. He also crossed below the key support level in the amount of $ 170, the lowest swing on January 13, and the neckline of a two -strength pattern.
He also formed the scheme of the Cross of Death, since 50-day and 200-day sliding medium-sized medium-sized overlapping each other.
Therefore, the coin will probably continue to fall, and the next target level will be a psychological point of $ 100.
Why Solana?
Solan was launched in 2020, a former Qualcomm Anatoly Yakovenko engineer, as well as co -founders Greg Fitzgerald and Raj Gokal. Its blockchain was developed to ensure high throughput, low transaction costs and fast processing speeds using a unique consensus mechanism, called the evidence of history (POH) in combination with the proof of Cola (POS).
To date, he has attracted a large community of developers, which contributes to experiments, including in the creation of coins.
Memic coins flourish on their blockchain for several key reasons:
- Low transaction fee: This allows developers to launch tokens and often exchange them for users, which is ideal for speculative and often large trade nature of memes.
- High -speed: He can process thousands of transactions per second, which provides liquidity and minimizes slippage during trade, attracting enthusiasts of memes that often haunt quick profits.
- Developer tools: It offers a reliable development environment with tools such as the Library of SOLANA (SPL) programs and strong support for the Rust programming language. This simplicity of deployment encourages quick launch of coins of memes, often with minimal efforts.
These factors together make SOLANA a popular choice for launching Meme Moins, despite the risks of volatility and fraud in space.
