{"id":3621,"date":"2025-06-21T12:01:09","date_gmt":"2025-06-21T12:01:09","guid":{"rendered":"https:\/\/bitunikey.com\/news\/solana-slips-on-meme-coin-mayhem-yet-charts-signal-a-possible-comeback\/"},"modified":"2025-06-21T12:01:10","modified_gmt":"2025-06-21T12:01:10","slug":"solana-slips-on-meme-coin-mayhem-yet-charts-signal-a-possible-comeback","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/solana-slips-on-meme-coin-mayhem-yet-charts-signal-a-possible-comeback\/","title":{"rendered":"Solana slips on meme coin mayhem yet charts signal a possible comeback"},"content":{"rendered":"
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The price of Solana plunged, underscoring deeper turmoil in its ecosystem, as weakness in meme coin markets, DeFi activity, and stablecoin transactions converge to pressure the once high-flying blockchain. <\/p>\n

With SOL shedding over a quarter of its value since May and its broader network indicators sharply deteriorating, the sell-off highlights how speculative mania around meme tokens has bled into Solana\u2019s fundamentals. <\/p>\n

Still, technical signals offer a glimmer of optimism\u2014if buyers return soon.<\/p>\n

Solana dropped to $140, its lowest level since April 22, erasing over $22 billion in value as the market capitalization fell from $96 billion on May 23 to $74 billion.\u00a0<\/p>\n

SOL\u2019s retreat has coincided with the recent dive of Solana meme coins, which have erased billions of value. CoinGecko data shows that these meme coins have a market capitalization of $9.29 billion, down from over $30 billion in January to $15 billion in May.<\/p>\n

In the past seven days, most Solana meme coins have dived by double digits. Fartcoin (FARTCOIN) has dropped by 25% in this period, while Popcat (POPCAT) and Gigachad (GIGA) have fallen by over 20%.<\/p>\n

<\/p>\n

The ongoing Solana meme coin retreat has negatively affected its ecosystem. For example, DeFi Llama data show<\/a> that the transaction volume in its decentralized exchange protocols has dropped to $46 billion in June, down from $97 billion in May and $262 billion in January.\u00a0<\/p>\n

Meanwhile, Solana\u2019s stablecoin network has deteriorated this month. Artemis data<\/a> shows that the stablecoin transaction volume has dropped by over 68% in the last 30 days to $179.5 billion. The number of stablecoin transactions has plunged by 37%, while addresses have fallen by 20% to 3.2 million.<\/p>\n

SOL price analysis as a bullish flag forms<\/h2>\n
<\/source><\/p>\n<\/picture>
Solana price chart | Source: crypto.news<\/figcaption><\/figure>\n

The daily chart shows that Solana price has tumbled from $187 in May to $140 today, June 21. The 50-day and 100-day moving averages have formed a mini death cross pattern, often leading to more downside.\u00a0<\/p>\n

It has also dropped below the 23.6% Fibonacci Retracement, while the Relative Strength Index and the MACD have pointed downwards, suggesting further retreat.<\/p>\n

On the positive side, Solana has formed a bullish flag pattern, consisting of a vertical line and a descending channel. Therefore, there is hope that SOL price will bounce back in the next few weeks. Such a rebound will be confirmed if it rises above the 100-day moving average at $156, which coincides with the upper side of the flag channel.\u00a0<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

The price of Solana plunged, underscoring deeper turmoil in its ecosystem, as weakness in meme coin markets, DeFi activity, and stablecoin transactions converge to pressure the once high-flying blockchain. With…<\/p>\n","protected":false},"author":1,"featured_media":180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=3621"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3621\/revisions"}],"predecessor-version":[{"id":3622,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3621\/revisions\/3622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/180"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=3621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=3621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=3621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}