Argentine President Javier Milei's involvement in a memecoin scandal has caused a 20% drop in Solana's price. This controversy led to legal action against Milei and eroded investor confidence. Solana's struggles are reflected in low prediction rates, with traders placing a low chance of the coin breaking its all-time high and a high chance of it falling further. However, some experts remain optimistic about Solana's future, predicting it will reach $520 by the end of 2025 due to its revenue and position as a leading layer-1 network. Pantera Capital analysts believe 2024 will be a pivotal year for Solana, citing its thriving tokenization ecosystem and growing developer base. Matt Hougan suggests that the pullback could be a buying opportunity for institutional investors.



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