Solana (SOL) experienced a significant rally in late 2023 and early 2024, increasing by 900% in just six months. However, recent trading has not been kind to Solana, leading to a 41.17% fall from its January highs. This decline, along with the lackluster performance of the cryptocurrency market since the start of 2025, has resulted in Solana losing around $50 billion in market capitalization. The popularity of meme coins on Solana may have contributed to its decline, as these coins are often used in scams. Despite the drop, some analysts believe this presents a buying opportunity, with a target price of $280 if Solana remains above $162.



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