The post negative forecasts for the price of SOL appeared on BitcoinEthereumNews.com.

February 2025 is proving to be a negative month for the price of SOL, the native cryptocurrency of Solana.  To tell the truth, it’s a bit the entire altcoin sector that is suffering, but as far as SOL is concerned, there is a specific reason that makes it possible to believe that the decline could continue further.  The success of Solana The all-time high price reached by the cryptocurrency Solana was $294, hit on January 19.  It is not a coincidence that this was also the day following the one when Donald Trump launched his official memecoin, given that it was launched precisely on the Solana blockchain.  In particular, starting from $125 in September 2024, the price of SOL has grown significantly and very quickly, so much so that it recorded a +66% in just 18 days in November.  On one hand, this growth was certainly triggered by the so-called Trump trade, namely the electoral victory of Donald Trump, which led to the resignation of SEC Chairman Gary Gensler, and is leading to the closure of almost all the main cases opened by the agency against crypto in recent years. On the other hand, however, specifically regarding Solana, the boom is also due to the sensational success of Pump.fun and memecoins. The decline in the price of Solana (SOL) However, the launch of Trump’s memecoin did not go particularly well.  The price of its token $TRUMP first rose to over $70, but just three days later it had fallen to around $30. A week later it also fell below $30, and two weeks after the launch it also fell below $20. Now its price hovers around $15, but for several weeks now it seems to have entered a descending lateralization phase that might not have concluded yet.  Moreover, a few…

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Filed under: News - @ February 24, 2025 1:20 pm