Solana News: TRUMP Coin Faces Potential Further Collapse as It Drops 85% from Peaks

TRUMP Coin Down 85% – Is a Bigger Collapse Coming?

The official meme coin of US President Donald Trump, TRUMP, is hovering precariously above $10 per token, down 85% from its post-launch peaks. The coin is eyeing a fresh price crash as the broader crypto market swoons. The Solana meme coin, which has been widely criticized and reportedly cost investors over $2 billion in losses, has been in a strong downtrend since topping out just ahead of Trump’s inauguration in January. Thousands of investors lost significant amounts of money after buying the meme coin, while the Trump family raked in over $100 million in trading fees. Some have called for the Department of Justice to investigate this ethical disaster.

Lazarus Group Targets Solana and Exodus Wallets in Supply Chain Attack

North Korea’s Lazarus Group has launched a sophisticated supply chain attack leveraging the npm ecosystem to infiltrate developers’ environments and steal cryptocurrency-related data. Security researchers at Socket.Dev uncovered six new malicious packages designed to deploy BeaverTail malware and establish a persistent backdoor called InvisibleFerret. These packages, downloaded over 330 times, mimic trusted libraries and use typosquatting to deceive developers. The focus on crypto-specific infrastructure marks a significant shift in Lazarus’ tactics.

Solana’s Supply Shock: Proposal to Cut SOL Inflation by 80%

Solana’s proposal, SIMD-228, aims to slash SOL inflation by up to 80% and has already reached quorum with 71.85% voting in favor. This move could tighten SOL’s supply dynamics but it remains to be seen if it will be enough to reverse the bearish market sentiment. SOL is currently trading at $213, down from its $270 all-time high. Solana follows a semi-deflationary model where a portion of transaction fees is permanently burned, gradually reducing the total supply.

Solana (SOL) Price Prediction for March 12

The current trading price of Solana (SOL) is at $125.72, with a short-term uptick of 2.40% over the last 24 hours. However, over the last 30 days, SOL has dropped by 39.77%. This divergence indicates temporary short-term gains against long-term challenges such as broader market sentiment, potential regulatory concerns, and blockchain competition. Solana’s RSI suggests the asset is in a neutral-to-slightly oversold territory.