{"id":570642,"date":"2024-01-22T10:45:48","date_gmt":"2024-01-22T10:45:48","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=570642"},"modified":"2024-01-22T10:17:00","modified_gmt":"2024-01-22T10:17:00","slug":"from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble\/","title":{"rendered":"From Highs To Lows: Solana&#8217;s Price Journey &#8211; Can It Recover From FOMO Fumble?"},"content":{"rendered":"<p>In a twist of fate, SOL, the native token of Solana, navigates through a period of volatility after a robust bullish run that spanned from September to December 2023. The once-surging token has encountered a steady decline over the past three weeks, leaving investors on the edge.<\/p>\n<h2><strong>Solana Meteoric Rise Falters Amid Corrections<\/strong><\/h2>\n<p>Initially hailed for its remarkable performance, SOL skyrocketed by an astonishing 500% since October 2023, with December alone contributing a remarkable 105% gain. The surge was largely attributed to the fear of missing out (FOMO) surrounding Solana&#8217;s SPL token airdrops, where tokens such as Jito (JTO), BONK, and Dogwifhat (WIF) played a significant role.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/binance-coin-bnb-blasts-off-10-gain-sparks-350-price-predictions\/\" target=\"_blank\" rel=\"noopener \">Binance Coin (BNB) Blasts Off: 10% Gain Sparks $350 Price Predictions<\/a><\/div>\n<p>However, the currents have turned since the dawn of the new year. Recent weeks have witnessed a correction in SOL&#8217;s value, shaking investor confidence. Excessive optimism regarding airdrop expectations and delayed launches have contributed to this correction, as the boost to decentralized applications (dapps) proved short-lived.<\/p>\n<pre style=\"text-align: center\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/3kdhxTrW\/\" width=\"1273\" height=\"522\">Solana currently trading at $88.4036 on the daily chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ZUMCtHpo\/?symbol=CRYPTOCAP:XRP\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>The decline in SOL&#8217;s value has been evident, with the coin rarely surpassing the $107 mark in recent times. On January 19th, SOL faced a 9% decline, plunging to a low of $95. Analysts have observed a consistent rejection from the $100 level, further fueling investor caution.<\/p>\n<p>At the time of writing, SOL was trading at $89.72, <a href=\"https:\/\/www.coingecko.com\/\" target=\"_blank\" rel=\"noopener nofollow\">down 2.4% and 6.7%<\/a>, respectively, in the last 24 hours and seven days, data from Coingecko shows.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-570649\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?resize=1024%2C270\" alt=\"\" width=\"1024\" height=\"270\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=1298 1298w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=860 860w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=750 750w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_19b4fa.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: Defillama<\/pre>\n<h2><strong>SOL Faces Price Dip Amidst Growth<\/strong><\/h2>\n<p>While SOL&#8217;s token price experiences a downward trend, there are positive signs of growth in other aspects. <a href=\"https:\/\/defillama.com\/chain\/Solana?currency=SOL\" target=\"_blank\" rel=\"noopener nofollow\">Solana&#8217;s total value locked<\/a> (TVL) in SOL tokens reached an all-time high of 15.4 million on December 19th, 2023, indicating a substantial 60% growth compared to the previous month.<\/p>\n<p>Furthermore, Solana has demonstrated an increase in network activity, particularly in transactions and volumes. Despite a slight decline in transactions and active dapp users over the past week, Solana&#8217;s dapps volume reached an impressive $594 million, with a staggering 72.3 million transactions.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-570646\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_36da0e.png?resize=675%2C362\" alt=\"\" width=\"675\" height=\"362\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_36da0e.png?w=675 675w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_36da0e.png?w=460 460w\" sizes=\"(max-width: 675px) 100vw, 675px\"><\/p>\n<p><a href=\"https:\/\/www.moneycontrol.com\/crypto-market\/technical-analysis\/solana\/solinr\/daily\" target=\"_blank\" rel=\"noopener nofollow\">Technical analysis paints a mixed picture<\/a> for SOL&#8217;s future. While the token remains above its 50-day and 200-day exponential moving averages, suggesting a bullish sentiment, recent price action raises concerns of a potential reversal.<\/p>\n<p>SOL&#8217;s relative strength index (RSI), on the other hand, sits at 43.70, indicating a bearish market, while the moving average convergence and divergence (MACD) stands at 55.50, pointing towards an upward trend.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/is-tron-toast-network-activity-crumbles-as-crypto-cools-off\/\" target=\"_blank\" rel=\"noopener \">Is Tron Toast? Network Activity Crumbles As Crypto Cools Off<\/a><\/div>\n<p>Initially, analysts were optimistic, predicting a continued bullish run for SOL in 2024, with price projections ranging from $250 to $300. However, the general price dip observed since the beginning of the year, coupled with increased selling pressure, has shifted control towards the bears.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">$SOL<\/a><\/p>\n<p>Top is in.<\/p>\n<p>Will trade under $60 in 2024. <a href=\"https:\/\/shenyangcang.com\/avalanche\/buy-sell-trade-tokens-avalanche\/\" target=\"_blank\" rel=\"noopener \">pic.twitter.com\/AHH7I8KZug<\/a><\/p>\n<p>\u2014 Toni Ghinea (@ToniGhinea) <a href=\"https:\/\/twitter.com\/ToniGhinea\/status\/88862190?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">January 19, 2024<\/a><\/p><\/blockquote>\n<p>A struggle between bulls and bears has ensnared investors. A lot of people are just going to sit tight and see what happens because of the resistance levels and the cautious market mentality.<\/p>\n<p>It is worth mentioning that expert Toni Ghinea has predicted a possible decline to $60 by the end of 2024, which might intensify the negative sentiment around the SOL market.<\/p>\n<p><em>Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a twist of fate, SOL, the native token of Solana, navigates through a period of volatility after a robust bullish run that spanned from September to December 2023. The once-surging token has encountered a steady decline over the past three weeks, leaving investors on the edge. Solana Meteoric Rise Falters Amid Corrections Initially hailed for its remarkable performance, SOL skyrocketed by an astonishing 500% since October 2023, with December alone contributing a remarkable 105% gain. The surge was largely attributed to the fear of missing out (FOMO) surrounding Solana&#8217;s SPL token airdrops, where tokens such as Jito (JTO), BONK, and Dogwifhat (WIF) played a significant role. Related Reading: Binance Coin (BNB) Blasts Off: 10% Gain Sparks $350 Price Predictions However, the currents have turned since the dawn of the new year. Recent weeks have witnessed a correction in SOL&#8217;s value, shaking investor confidence. Excessive optimism regarding airdrop expectations and delayed launches have contributed to this correction, as the boost to decentralized applications (dapps) proved short-lived. Solana currently trading at $88.4036 on the daily chart: TradingView.com The decline in SOL&#8217;s value has been evident, with the coin rarely surpassing the $107 mark in recent times. On January 19th, SOL faced a 9% decline, plunging to a low of $95. Analysts have observed a consistent rejection from the $100 level, further fueling investor caution. At the time of writing, SOL was trading at $89.72, down 2.4% and 6.7%, respectively, in the last 24 hours and seven days, data from Coingecko shows. Source: Defillama SOL Faces Price Dip Amidst Growth While SOL&#8217;s token price experiences a downward trend, there are positive signs of growth in other aspects. Solana&#8217;s total value locked (TVL) in SOL tokens reached an all-time high of 15.4 million on December 19th, 2023, indicating a substantial 60% growth compared to the previous month. Furthermore, Solana has demonstrated an increase in network activity, particularly in transactions and volumes. Despite a slight decline in transactions and active dapp users over the past week, Solana&#8217;s dapps volume reached an impressive $594 million, with a staggering 72.3 million transactions. Technical analysis paints a mixed picture for SOL&#8217;s future. While the token remains above its 50-day and 200-day exponential moving averages, suggesting a bullish sentiment, recent price action raises concerns of a potential reversal. SOL&#8217;s relative strength index (RSI), on the other hand, sits at 43.70, indicating a bearish market, while the moving average convergence and divergence (MACD) stands at 55.50, pointing towards an upward trend. Related Reading: Is Tron Toast? Network Activity Crumbles As Crypto Cools Off Initially, analysts were optimistic, predicting a continued bullish run for SOL in 2024, with price projections ranging from $250 to $300. However, the general price dip observed since the beginning of the year, coupled with increased selling pressure, has shifted control towards the bears. $SOL Top is in. Will trade under $60 in 2024. pic.twitter.com\/AHH7I8KZug \u2014 Toni Ghinea (@ToniGhinea) January 19, 2024 A struggle between bulls and bears has ensnared investors. A lot of people are just going to sit tight and see what happens because of the resistance levels and the cautious market mentality. It is worth mentioning that expert Toni Ghinea has predicted a possible decline to $60 by the end of 2024, which might intensify the negative sentiment around the SOL market. Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":570678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,12837,86420,83626,86410],"class_list":["post-570642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-sol","tag-sol-price","tag-solana","tag-solusd"],"acf":[],"yoast_head":"\n<title>Solana Price Journey - Can It Recover From FOMO Fumble?<\/title>\n<meta name=\"description\" content=\"In a twist of fate, SOL, the native token of Solana, navigates through a period of volatility after a robust bullish run that spanned from September to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shenyangcang.com\/news\/from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Price Journey - Can It Recover From FOMO Fumble?\" \/>\n<meta property=\"og:description\" content=\"In a twist of fate, SOL, the native token of Solana, navigates through a period of volatility after a robust bullish run that spanned from September to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shenyangcang.com\/news\/from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-22T10:45:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-22T10:17:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/01\/a_374c01.png?fit=430%2C224\" \/>\n\t<meta property=\"og:image:width\" content=\"430\" \/>\n\t<meta property=\"og:image:height\" content=\"224\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Christian Encila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Encila\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/shenyangcang.com\/news\/from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/shenyangcang.com\/news\/from-highs-to-lows-solanas-price-journey-can-it-recover-from-fomo-fumble\/\"},\"author\":{\"name\":\"Christian Encila\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/a2d6e9b600c0ed5252bbfc4170c3dd80\"},\"headline\":\"From Highs To Lows: Solana&#8217;s Price Journey &#8211; 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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