Solana (SOL), an established blockchain platform celebrated for its high throughput and low transaction costs, has been encountering significant challenges of late. The emergence of meme coins—especially the highly contentious rug pull associated with the LIBRA token—has only compounded investor concerns regarding SOL’s overall health. As a direct consequence, Solana’s price has been declining, and it is now down by 10% just over the past week, with a stunning 40% extraction from its zenith in January. This recent drop is part of a larger trend affecting decentralized exchanges (DEXs), which are seeing weakened trading volumes. Solana’s main DEX, Raydium, demonstrated
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