The price of Solana (SOL) has dropped to levels last seen in November 2024, reaching a low of $161.66 due to the wider crypto crash that has affected Bitcoin and Ethereum. Solana has been negatively impacted by the LIBRA meme coin crash, which caused traders to lose around $286 million. This incident has damaged investor trust in the Solana ecosystem and has contributed to the current price decline. Additionally, there is anticipation for the unlock of $2.2 billion worth of SOL tokens by FTX's estate on March 1, which could lead to further price drops if these tokens are sold off. Technical indicators suggest a bearish trend for Solana in the short term, but there is a potential for recovery if it can maintain or regain investor confidence. However, the current narrative suggests significant risk, with the potential for SOL to drop further to $150.



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