Solana price drops 45% due to memecoin competition, concerns over downside movement

From Cointelegraph

March 2, 2025 08:14:41 AM:

Solana’s price struggles under memecoin pressure despite resilience post-largest token unlock. SOL fell 45% since Trump memecoin launch, from $261 to $143. Memecoin appetite limits price performance, says Radix founder. Memecoins attract new liquidity from Solana. Solana recovers above $140 post-$2B token unlock. Concerns over downside move for SOL after large unlock. Macro events, security incidents limit institutional crypto investment. Investor sentiment recovering post-$1.4B Bybit hack.

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