{"id":13611,"date":"2025-02-18T07:01:42","date_gmt":"2025-02-18T07:01:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=13611"},"modified":"2025-02-18T07:01:42","modified_gmt":"2025-02-18T07:01:42","slug":"solana-price-craters-40-from-january-high-as-meme-coin-bubble-bursts","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=13611","title":{"rendered":"Solana Price Craters 40% From January High as Meme Coin Bubble Bursts"},"content":{"rendered":"<div>\n<p>Solana (SOL) has been downtrending and retracing heavily over the past month. The asset has declined 40% since its Jan. 19 all-time high of $293, and the trend seems set to continue as meme coin mania fades. Moreover, SOL is down a further 8% on the day, falling below $170 for the first time since early November.<\/p>\n<p>Solana\u2019s popularity and high usage in recent months have been primarily driven by meme coin minting and speculation, but that has <a href=\"https:\/\/cryptopotato.com\/solana-dex-trading-volume-drops-to-2-61b-lowest-since-mid-december\/\" data-wpel-link=\"internal\">started falling<\/a>.<\/p>\n<p>Degens have flocked to the low-cost blockchain to mint and shill meme coins on platforms like <a href=\"https:\/\/cryptopotato.com\/solanas-retail-surge-driven-by-pump-fun-ethereum-still-king-of-large-trade\/\" data-wpel-link=\"internal\">Pump.fun<\/a>. The vast majority of these spurious tokens have no utility and serve no purpose, and a high percentage were pump-and-dump schemes.<\/p>\n<h2>Game Over For Solana?<\/h2>\n<p>\u201cIt\u2019s over for Solana,\u201d lamented crypto trader \u2018Xremlin\u2019 who added it is \u201cWorse than the FTX collapse.\u201d<\/p>\n<p>The trader blamed the <a href=\"https:\/\/cryptopotato.com\/melania-token-unlock-set-for-february-19-20-will-selling-pressure-increase\/\" data-wpel-link=\"internal\">MELANIA<\/a> token, the namesake coin of the First Lady launched just days after TRUMP, and LIBRA, a token allegedly promoted by Argentina\u2019s president Javier Milei, which he has denied.<\/p>\n<p>Insider trading caused pump and dumps liquidating retail traders, adding to the fall of Solana, the analyst said.<\/p>\n<blockquote>\n<p>\u201cThis past month showed how bad things are on Solana\u2019s meme scene. Mostly, it\u2019s insiders making money while everyone else loses. Today, the SOL price began responding to this sentiment.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">It\u2019s over for Solana<\/p>\n<p>Worse than the FTX collapse<a href=\"https:\/\/twitter.com\/search?q=%24LIBRA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">$LIBRA<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/MELANIA?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">#MELANIA<\/a> changed everything<\/p>\n<p>: Here\u2019s what went down and what\u2019s next\u2026 <a href=\"https:\/\/t.co\/mo6TMBpift\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/mo6TMBpift<\/a><\/p>\n<p>\u2014 Xremlin (@0x_gremlin) <a href=\"https:\/\/twitter.com\/0x_gremlin\/status\/1891520675170468072?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 17, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, crypto investor \u201cAsh Crypto\u201d <a href=\"https:\/\/x.com\/Ashcryptoreal\/status\/1891692027298849193\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> we now know the real reason that Solana meme coins started dying. Insiders have been sniping these meme coin launches and selling to dump on retail, he said.<\/p>\n<blockquote>\n<p>\u201cInsiders have extracted $200+ Million from these Solana launches so far.\u201d<\/p>\n<\/blockquote>\n<p>\u201cSolana and SOL memes are dumping hard because people are realizing this whole game was rigged, and it was all just wealth transfer\/value extraction from crypto gamblers to project insiders,\u201d he <a href=\"https:\/\/x.com\/Ashcryptoreal\/status\/1891422034380382559\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> in a separate post.<\/p>\n<p>Others posted some shocking statistics about how much has been extracted from Solana meme coins:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">calculated the total extracted from memes on solana:<br \/>\n\u2013 trading bots &amp; apps: 1.09bn<br \/>\n\u2013 pumpfun: 492m<br \/>\n\u2013 MEV: 1.5-2bn<br \/>\n\u2013 Trump insiders: 0.5-1bn<br \/>\n\u2013 Other insiders: unknown<br \/>\n\u2013 AMMs: 0-2bn<\/p>\n<p>Total: 3.6-6.6+ bn<\/p>\n<p>Sources in the next tweet<\/p>\n<p>\u2014 0xngmi (@0xngmi) <a href=\"https:\/\/twitter.com\/0xngmi\/status\/1890783855054831910?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">February 15, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Ethereum Makes Surprise Move<\/h2>\n<p>As if in response to the SOL slump, <a href=\"https:\/\/cryptopotato.com\/ethereum-jumped-8-after-cboe-staked-ether-etf-application\/\" data-wpel-link=\"internal\">ETH prices<\/a> have bucked the market trend, topping $2,830 in a 12-day high on Monday.<\/p>\n<p>However, market momentum was too much for the asset to overcome and ETH fell back below $2,700 again during trading in Asia on Tuesday.<\/p>\n<p>Total market cap is down 3% on the day at $3.27 trillion and SOL is the largest loser in the top 40 crypto assets \u2013 while Solana-based meme coins are not far behind.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/solana-price-craters-40-from-january-high-as-meme-coin-bubble-bursts\/\" rel=\"nofollow\">Solana Price Craters 40% From January High as Meme Coin Bubble Bursts<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana (SOL) has been downtrending and retracing heavily over the past month. The asset has declined 40% since its Jan. 19 all-time high of $293, and the trend seems set to continue as meme coin mania fades. Moreover, SOL is down a further 8% on the day, falling below $170 for the first time since [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-13611","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13611"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/13611\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}