Yikes. Solana don kpai? 💀

Solana don kpai? 💀

Solana don kpai? Short answer: no.

We just touch am with stick – e still shake! So e still dey alive. E just dey… rest.

Di long answer?

Everybody dey focus say Solana don fall from $290 go $170 dis last one month – but dem no sabi say the run go $290 no too normal (na $TRUMP cause am).

E no suppose even happen – because the whole crypto market don dey go down for some months now, and Solana no be exception.

And as market dey go down, any bad news go hit different (and Solana just collect better woto-woto).

How e take happen?

1/ Solana wahala dis week

ICYMI: Solana don drop 12.3% for the last seven days!

Na because fear, uncertainty, and doubt (FUD) don full ground based on Argentina $LIBRA token launch, plus talk say the people wey get Jupiter (di DEX) and Meteora (di memecoin launchpad) dey use inside info dey do trading.

(Dem never fit prove any of dis ones sha.)

2/ Dis mata make people dey fear say ‘memecoin bubble’ don burst

Normally, memecoin trading dey make up like 50-70% of all DEX trading volume for Solana, so if the bubble burst, e go be serious wahala.

But as of Monday, memecoins still dey make up 67% of all DEX trading volume for Solana, around ~$3.2B.

To compare: For late December, total daily trading volume for Solana don reach the lowest wey be $3.7B.

So even as e be now, volume still dey above the two-month low. 👇

Di wahala be say – trading volume don fall off since January 19th (check dat big spike for the chart above 👆), and e dey make plenty people panic.

But as we don talk, na $TRUMP token cause the anomaly.

And before the launch, Solana and the whole crypto market self don dey inside downtrend...

3/ No be only Solana – na the whole market

Dis na the total crypto market cap – e don dey inside one descending channel since December 17th. 👇

Dis na Solana price – e don dey inside one descending triangle since November 22nd, and na only the $TRUMP token craze make am break out. 👇

So wetin be the koko?

Solana downtrend + the whole crypto market dey go down + Solana just hear bad news = 12.3% dump dis last week.

(E no too scary if you look am from dis angle.)

And if you zoom out well-well?

'Solana' – omo, na opportunity! 👇