Solana (SOL) has recorded a bullish drive in recent months as the wider cryptocurrency market activity surged.
The community dubbed ETH killer soared following a memecoin frenzy, wider market gains, institutional inflows to investment products, and the wider market uptick. However, in the last 24 hours, Solana has plummeted 6.22% amid ongoing cryptocurrency liquidations.
Solana trades at $171.36 with bulls pushing toward $180 although the asset posted a declining trading volume in the last 24 hours. The altcoin trading volume stands at $8.1 billion, a 29% decline following the bearish outlook. Overall, Solana maintains its position as the 5th ranked coin by market capitalization ahead of Ripple (XRP).
High Flying Solana Stunted
Solana’s 68% monthly rise was clipped in the last four days as a result of certain factors like the fall of memecoins in the blockchain. Solana memecoin BOME which recorded a sharp rise has faced pullbacks with a 50% crash in prices.
Although the token p
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