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Solana has faced increased pressure pressure and negative morale with a continued decrease in the broader Mimi currency market, affecting the performance of the market in general. Analysts suggest that excessive speculation about Meme currencies is a major cause of Altcoins, including Solana, with flow compared to bitcoin. The nature driven by these symbols that this noise drives led to severe fluctuations, making investors more cautious than exposure to the communities.
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Mel coins are now seen as a dangerous factor for the ecosystem of Solana. The clouds of the last rug, which includes the scale, which is the Mim coin approved by Argentina President Javier Millie, has increased concerns among investors. This incident has shook confidence in the network, highlighting the risks of speculative trade and potential fraud within the Solana ecosystem.
As a result, Sol decreased by 10 % over the past week and remains 40 % of its peak in January, indicating a clear direction of the decline in momentum. In addition, trading sizes on decentralized stock exchanges (DeXs) significantly decreased, reflecting the increasing investor frequency. Solana and the market face a critical moment, as analysts closely monitor whether the network can recover from the damage caused by the speculation of the meme currency or if it is expected to be the negative side.
Solana enters a decisive stage
The euphoria of Meme Coin, which has fueled the high price of Solana for several months, is now collapsing, exposing the network to increase volatility and uncertainty. While Solana benefited from the speculative boom from Meme currencies, it was only a matter of time before facing the very speculative market and began to create problems.
Axel Edler's encryption analyst Participate in an analysis on XWarning that Mimi metal currencies are actively hurting Solana's sustainability in the long run. The latest example is the scale carpet, which is the Mim currency that has gained strength towards its association with Argentine President Javier Millie, only for the collapse, leaving the investors losses. This event increased the investor concerns and the speedy pressure of sales pressure on Solana, which decreased by 10 % during the past week and 40 % of its peak in January.
In addition to making the price, trading volumes in Solana DepressiedIted Exchang (DeX) achieved great success, as it decreased by 25 % last week, while Raydium Dex alone witnessed a decrease of 47 %. This decline indicates that the investor's confidence in the Solana and Trading ecosystem is weakened.
In addition to concerns, on March 1, 11.2 million Sol will be opened – these distinctive symbols, which were initially sold during the FTX bankruptcy, were obtained later by major companies such as Galaxy, Pantera and Figure. This great distinctive symbol may increase the pressure on the price if these companies decide to empty their property.
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With the cooling of Mimi currency speculation, Solana is now a decisive test: Can he regain investor and stability confidence, or will continue the downside while increasing the sale pressure? The coming weeks will be decisive in determining the network's ability to recover from this recession.
Sol holds the decisive request
Solana (Sol) is trading at $ 184 after losing on a 200 -day SIA moving average (EMA) about $ 190, indicating an increase in the pressure pressure. The price is now testing the simple moving average for 200 days (SMA), which is a long -term support level in which the bulls should defend to prevent more from the negative side.
If the bulls fail to keep SMA for 200 days, he may follow a huge correction, which may push Sol to low -order areas of about $ 175 or even $ 160. Feelings about Sol remain fragile with the continued speculation of Meme, which leads to the withdrawal of Solana's ecosystem with him.
In order to return the bullish momentum, Sol must restore the level of $ 190 and pay the psychological brand of the psychological as soon as possible. The break and the contract above $ 200 would confirm a short-term reflection, which helps Sol to restore strength and may target the highest supply levels about $ 220-230.
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However, failure to apostasy from the current levels indicates more negative risks, with more references and the pressure pressure is likely to follow. Given the negative emotions surrounding the metal coins and the distinctive distinctive symbol, Sol is at a critical turning point, as its next step will determine the direction of the market in the short term.
Distinctive image from Dall-E, the tradingView graph