Will Solana price hold $180 after 30% drop in weekly DApp volumes?
Declining network activity and interest in memecoins put a dent in Solana price, but derivatives data suggest limited downside.
Solana’s native token SOL (SOL) failed to sustain levels above $200 after multiple rejections between Dec. 25 and Dec. 26. This movement aligned with the broader cryptocurrency market, which saw a 3.5% decline over two days ending Dec. 27. However, SOL underperformed with a 5.1% correction, raising concerns among traders about potential further price declines.
One key source of concern was Solana’s onchain network volumes, which dropped by 30% over seven days.
Blockchains ranked by 7-day DApps volumes, USD. Source: DefiLlama
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Author: Marcel Pechman
