Solana (SOL) has come under renewed pressure, with its price dipping to $152.70 today as the broader market pulls back across major altcoins.
This marks a rough couple of weeks for SOL, now down 11.5% over seven days and 15% over a fortnight, despite holding a 6% gain over the past month.
The downturn comes as Solana-based launchpad Pump.fun is rumored to be raising funds for a potential token launch — a move that could shift some investor focus away from SOL.
If momentum continues to shift, it may weigh further on SOL in the short term, although a longer-term rebound remains likely — as explored in our latest Solana price prediction.
Solana Price Prediction: Will Pump.fun’s Token Replace SOL?
Pump.fun hasn’t actually confirmed the launch of its own token, yet reports from sources familiar with the matter suggest that the launch is coming soon.
It’s reportedly aiming to raise $1 billion via a sale to public and private investors, which would give the token a market cap of $4 billion.
Other details, such as features or utility, are scarce at the moment, with Pump.fun refusing to comment to media breaking the story.
And on Crypto Twitter, the potential launch has met with considerable skepticism, with some critics claiming that the move is an “exit scam” aimed at profiting from Pump.fun’s brand before its launchpad becomes irrelevant.
Some observers have pointed to falling revenues on Pump.fun, amid a decline in meme coin trading activity, suggesting that the platform’s operators want one last payday.
Of course, we’ll have to see how this pans out, but for now the impact on the Solana price is more negative in the short term.
Looking at its chart today, we see that the next few days could actually be pretty rough for the altcoin, given the turn its indicators have taken.
Its 30-day average (orange), for example, has just dropped below the 200-day (blue) again, forming a ‘death cross’ that can indicate incoming dumps.
And its relative strength index (purple) has just dropped below 40, with its trajectory suggesting that it could slide all the way to 30, if not 20.
Source: TradingViewWe may therefore see the Solana price drop a little further in the coming days, potentially sinking as low $145 or $140 before correcting upwards.
But given Solana’s fundamentals, it will recover strongly in the medium- and long-term, likely hitting $200 again in July.
High-Potential New Altcoin Gains Momentum Before Exchange Listing
If Solana looks a little too uncertain for some traders, they may want to allocate a portion of their portfolios to newer, smaller cap tokens, since these can often outpace the market.
Picking a new token that’s likely to take off can be extremely difficult, of course, but one way of honing in on potential winners is to look for successful presales.
These can indicate strong market interest in an upcoming coin, with one of the biggest presales of the past year or so belonging to layer-two token Solaxy (SOLX).
Solaxy has now raised $44.3 million in its presale, a hugely significant sum that speaks to the growing popularity of the project.
Its presale ends in 11 days, at which point SOLX will list and Solaxy will launch its layer-two network for Solana.
As an L2, Solaxy will provide Solana users with lower fees and faster confirmation times, enabling them to avoid the delays and failed transactions that Solana can witness during peak traffic.
It will also launch its own DEX soon after going live, with the exchange being a key part of its plans to become an important hub for trading.
SOLX will be necessary to pay for transaction fees, while holders will also be able to stake it, making it a valuable coin to hold.
Latecomers to its sale can still buy some early by going to the Solaxy website, where SOLX costs $0.001746.
This is its final presale price, but given the popularity of its sale, it could rise higher once it lists on trading platforms.
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