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Solana’s Price Plummets as ‘Death Cross’ Signals Looming Bearish Trend: Should Investors Be Worried?

by Sham
February 24, 2025
in Crypto, Featured
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Solana’s Price Plummets as ‘Death Cross’ Signals Looming Bearish Trend: Should Investors Be Worried?
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  • Solana is forming a death cross pattern, signaling potential further declines as it drops to $159.
  • Meme coin selloffs have wiped billions, with Solana’s active users falling to their lowest since October.
  • If SOL fails to recover above $200, it could drop to $110, marking a 30% decline from current levels.

Solana is on the verge of forming a death cross pattern, a technical indicator that often points to further downside. The ecosystem is already struggling—DEX volume is plunging, active users are leaving, and revenue is drying up.

JUST IN: Solana $SOL has now round tripped the Trump pump

November 5th (Election Day): $157

Today: $154 pic.twitter.com/znGYBWIMmI

— BlockNews (@blocknewsdotcom) February 24, 2025

SOL has now tanked to $159, marking its lowest point since November 6 and a 46% drop from its February high.

Meme Coin Collapse & Declining Network Activity

Solana’s recent crash aligns with a broader selloff in meme coins, a sector that once fueled massive gains.

  • Total SOL meme coin market cap plummeted from $25B in January to $9.8B today.
  • Popular tokens like Dogwifhat, Official Trump, and Pudgy Penguins have lost billions in value.
  • TokenTerminal data shows active users fell to 87.3M, the lowest since October 7.

Meanwhile, Solana’s revenue has collapsed, dipping below $1 million per day, a staggering decline from its $44M peak earlier this year.

Solana’s DEX Volume & Price Forecast—More Pain Ahead?

The DEX sector is also bleeding, as trading volume on Solana fell 36% in just seven days, landing at $16.7B—lagging behind Ethereum ($18.3B) and BSC ($16.9B).

  • SOL is forming a death cross, where the 50-day & 200-day WMA cross downward—a historically bearish signal.
  • The Percentage Price Oscillator is sliding deeper into negative territory, reinforcing the downtrend.
  • SOL broke below key support at $169, signaling that bears remain in control.

If this bearish momentum holds, the next major support sits at $110, the lowest level since August 2023—a potential 30% drop from current prices.

However, if SOL somehow claws its way back above $200, the bearish outlook would be invalidated. But for now? The trend remains firmly downward.

Tags: cryptoMeme CoinOfficial TrumpSolana
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