Solana News: SOL Faces Further Drop Risk as Key Support Zone is Lost

Solana (SOL) has recently experienced a significant price drop, losing over 12% in the last three days due to the controversial launch and crash of the Libra (LIBRA) token. Analysts warn of a possible deeper correction to monthly lows, raising concerns about the cryptocurrency's future.

Solana Faces Further Drop Risk Amid $180 Support Retest

Solana (SOL) has recently lost its key support zone, dropping over 12% in the last three days due to the controversial Libra (LIBRA) token launch and crash. Analysts suggest SOL risks a deeper correction to monthly lows. The Solana network has been popular for memecoin projects and has been one of the leading tokens over the last year. However, the recent controversial launch of a Solana-based token may have contributed to the drop. Despite this, SOL has shown strength since 2025 started, quickly bouncing back from market retraces and even hitting its latest all-time high (ATH) of $295 nearly a month ago.

Meteora Co-Founder Resigns Over LIBRA Project Mishap

Meteora’s co-founder, Ben Chow, has resigned from the Solana-based DEX platform due to a lack of judgement in listing the controversial LIBRA project. His decision came after co-founder Meow, also the founder of Jupiter Exchange, expressed disappointment in Chow's handling of core aspects of the Meteora project. The fall-out has also put pressure on the Argentinian President and Kelsier Ventures, who were involved with LIBRA.

Solana Price Drops 40% Amid Memecoin Concerns, Market Uncertainty

Solana [SOL] has faced significant headwinds, experiencing a 40% drop in value since January due to concerns over the rise of memecoins and a recent rug pull involving the LIBRA token. The decline in DEX trading volumes and the upcoming unlock of 11.2 million SOL tokens on March 1st are expected to further pressure the market. As major investors prepare to liquidate their holdings, Solana’s future remains uncertain in an increasingly volatile environment.

stabble Announces IDO on Solana-Based DEX

stabble, a decentralized exchange (DEX) built on Solana, has announced its Initial DEX Offering (IDO). The event, taking place from February 21 to 24, 2025, offers early participants the chance to acquire STB, the platform's native token, before its full launch. The IDO will be hosted on Fjord Foundry’s Liquidity Bootstrapping Pool (LBP), a dynamic pricing model designed to prevent large early buyouts and enable broader participation. stabble introduces a new approach to automated market making (AMM), addressing inefficiencies in existing DEXes.