Solana Risks Further Drop Amid $180 Support Retest – Is The SOL ‘Memecoin Fiesta’ Over? 💔
Solana (SOL) faces challenges as it retests the $180 support level after a significant price drop linked to the controversial launch of the Libra token. This launch, endorsed by Argentina’s President Javier Milei, saw the token surge before crashing due to insider sell-offs.
Despite Solana’s strong past performance and recent highs, the impact of the Libra debacle has affected market sentiment and led to dropped SOL prices. Some analysts suggest a potential price correction and note a shift in interest towards Ethereum.
The broader implications of this issue have led to skepticism about the memecoin surge akin to the 2020 DeFi excitement, raising questions surrounding Solana's future stability and market performance.
Source: www.newsbtc.com ↗
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