Solana's price has dropped 6.21% in the past 24 hours, resulting in $14.98 million in liquidations. Long traders were the most affected, with $11.4 million worth of positions getting liquidated, signaling that many traders were betting on Solana's continued rise. Trading volume for Solana also declined by 41.27%, suggesting a slowdown in market activity. Other assets like Dogecoin and XRP also faced liquidations. The overall trend highlights the volatility in the crypto market, and it remains to be seen if Solana can stabilize or if further fluctuations are ahead. The recent surge in decentralized exchange volumes on the Solana network helped lift its price, but bearish pressure soon capped the rally. Technical indicators now suggest a possible bearish trend, although support levels could provide a foundation for a potential rebound.



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