Solana News: SOL Prices Slide, Analyst Warns of Potential Drop to $65 if $130 Support Fails

Solana Slides Below $140 as Fear Grows—Will Bulls Defend $130 Support?

Solana (SOL) has dropped 5.17% in 24 hours, trading at $136 and nearing the $130 support level. SOL’s transfer volume has crashed significantly from $1.99 billion in November 2024 to $14.57 million today. Analyst Ali Martinez warns that a drop below $130 could trigger a steep fall to $65. The cryptocurrency market is experiencing turbulence, with the total market cap dropping to $2.87 trillion. Altcoins are struggling, and Solana is no exception.

Solana-based Pump.fun Regains Control of X Page After Brief Hijack

Pump.fun, a Solana meme launchpad, regained control of its X account after a brief takeover by unknown attackers. Hackers accessed the platform`s X page and used it to promote scam meme tokens. Renowned blockchain investigator ZachXBT warned users about the breach, advising traders to avoid clicking any links or trading the tokens posted by the attackers. The hackers attempted to deceive investors into purchasing a fake Pump.fun governance token, but the platform does not have a native token. By the time of publication, Pump.fun had fully regained control of its X account. It is unclear if meme traders suffered any losses from the incident.

Solana (SOL) Faces Steep Decline

Solana (SOL) has dropped significantly, with transfer volume falling from $1.99 billion in November 2024 to $14.57 million. SOL is down 56% from its all-time high, testing key support levels between $140-$120, with further risk if it falls below $115. Despite recent volatility, experts remain optimistic, predicting Solana could reach $500 or more in the next altseason. The sudden downturn can be largely attributed to a broader market sell-off that triggered widespread fear among investors, sending altcoins, including Solana, into a downward spiral.

Best Crypto Presales to Invest In: Solaxy, MIND of Pepe, Meme Index Set for 100x Gains

Imagine getting in on the ground floor of the next Bitcoin or Dogecoin before they take off. Solaxy (SOLX) is a Layer-2 scaling solution for Solana aiming to solve network congestion issues. By processing transactions off the main Solana chain, Solaxy plans to streamline transactions and prevent failures during periods of high activity.