Solana, the platform known for its association with memecoins, is currently facing a negative sentiment and a decrease in price and social engagement. This is believed to be a result of the recent backlash following the crash of LIBRA, a Solana-based token backed by Argentina President Javier Milei. Solana's price has dropped over 17%, social engagement has fallen over 35%, and sentiment has plummeted 16% since the launch of LIBRA. The LIBRA collapse has revealed a market manipulation scheme tied to memecoins, with allegations of siphoning over $200 million across multiple projects. Despite previous controversies, Solana has bounced back in the past due to technological advancements.



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