Solana News: SOL Faces Significant Price Correction, Investors Weigh Whether to Buy the Dip

Solana (SOL) has seen a dramatic decline in its price since reaching January highs, dropping by over 57%. Despite the overall recovery in the cryptocurrency market, SOL continues to struggle. Investors are now considering whether this is an opportune moment to buy the dip.

Solana Falls 57% Since January Highs: Should You Buy The Dip?

Solana (SOL) has faced a significant price correction, dipping by 57.5% since its January highs of $293.31. Despite a slight recovery in the cryptocurrency market, with Bitcoin (BTC) reclaiming the $83,000 price level and the global crypto market cap climbing to $2.8 trillion, SOL continues to dip. SOL is down across various timeframes, including 0.1% daily, 16.2% weekly, 11.8% in 14-day charts, 39.2% monthly, and 17.5% since March 2024.

Hamster Network Transaction Volume Plummets 99.9% Two Weeks After Launch

The Hamster Network, launched in February 2025 as a gaming-focused blockchain supporting decentralized applications (dApps) and games, has seen a 99.9% decline in transaction volume just two weeks after its launch, raising concerns about its long-term viability. BeInCrypto reported earlier that Hamster Kombat’s L2 network reached an all-time high of 34,021 TPS, 3.5 times higher than Solana’s.

Analysts Predict Solana’s (SOL) Surge in 2025

Solana (SOL) is showing accelerating bullish momentum due to network efficiency updates and rising trading volumes, pushing it towards breaking the $200 price level. Low costs and quick processing times make Solana a central force behind decentralized finance (DeFi) and NFT operations. Analysts differ on whether SOL can pass $200 throughout March due to anxiety about resistance points and wider market conditions. Despite macroeconomic pressures and long-term holder profit-taking, Solana demonstrates resilience, keeping the market optimistic.

Solana (SOL) Retests Crucial Support Level – Potential 50% Price Drop?

Solana (SOL) has seen a nearly 40% retracement over the past month, losing key support levels since February. As its price retests a crucial horizontal level, some analysts warn of a potential 50% correction to a yearly low. SOL was one of the leading cryptocurrencies of the cycle, fueled by the memecoin frenzy, climbing over 270% in a year to reach an all-time high of $270 nearly two months ago. However, SOL’s bullish sentiment has significantly decreased since January, recently plummeting to its lowest point in over a year, dropping over 50% from its January 19 ATH. Solana lost the key $200-$220 support zone at the start of last month, with the February market crashes sending SOL to retest lower levels.