Why Is Solana Crypto Down Today: Will SOL Meme Season Ever Repeating

Solana crypto is feeling the heat this week, with its price down to around $164.29 today. The titan nears a critical support level that could make or break its next move.

After months of token unlocks, the market is putting a lot of pressure on the price. The mood among traders is increasingly bearish, but there’s still hope on the horizon.

Can

Price









Volume in 24h

Price 7d

  withstand and hold its support, or is a deeper drop inevitable? The next few days could be crucial, so let’s see which way the market will swing.

Solana Under Pressure: Will the Price Hold or Plunge Further?

Solana’s price has been sliding recently, sitting at around $165 on Monday, and is now approaching a key support level. If it falls below, it could see a further drop, potentially reaching as low as $141.

$SOL

Sitting right back at key support. Good spot for it to bounce if it’s going to. pic.twitter.com/dOYpW6xf0h

— Nebraskangooner (@Nebraskangooner) May 19, 2025

DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in May 2025

A major factor in this decline has been the release of millions of Solana tokens in recent months. The March unlock alone released 11.2 million SOL tokens, worth about $1,7 billion, as part of the ongoing resolution of FTX bankruptcy. While the market sentiment is cautious, there is hope for a rebound.

Interestingly, despite the Solana crypto price being down today, around $77 million worth of $SOL has flowed off exchanges. This suggests that some investors might see the current dip as an opportunity to buy cheap. Overall, Solana is going through a rough patch, navigating a period of increased token supply and an alert market mood.

But things can change drastically in crypto, and there is still much growth potential for Solana. What’s also promising is the rise of Solana-based memecoins. The memecoin season brings attention and activity to the network, attracting new investors and creating a hype that can push prices up.

Meme coins are a mirror of our time – chaos, irony, greed, and belief in the impossible. Solana is the stage where legends are born. Meme season is just heating up. Perfect time to stack capital and etch your name into the chain. 👽#Solana #memecoin #DEGEN #Crypto pic.twitter.com/pJ6lrP4PCn

— enlis666 (@enlis666) May 19, 2025

DISCOVER: Top Solana Meme Coins to Buy in May 2025

The Countdown Is On: Solaxy’s Presale Nears $38 Million, Join The Movement!

While Solana faces some short-term challenges, the rise of innovative projects like SOLAXY signals a brighter future for the ecosystem. Solaxy is the first Layer 2 chain and is designed to unlock the full potential of Solana’s capabilities – infinite scale, multi-chain compatibility, and user-friendly. At the heart of Solaxy is the $SOLX token, which offers additional rewards to holders.

As the Solana network gets busier, Solaxy’s role becomes more important. Each increase in network traffic adds to the value of the $SOLX token. Solaxy isn’t just providing support, it plays an important role in the long-term growth of the Solana universe.

On April 19th, they introduced the Block Explorer, and the next milestone is the launch of the bridge, making it easier for you to transfer your coins.

Time is running out! Solaxy is in the final 27 days of its presale campaign, and this is the last chance for early investors to join the game. Having already raised nearly $38 million is a clear reflection of its growing success. With over 10,8 billion tokens already staked, the project also offers an impressive 106% APY and rewards its community like never before.

🚨 28 Days Remain 🚨

In just 28 days, the Solaxy pre-sale will end, but that is not all.

Announcing for the first time is Solaxy’s Igniter Protocol, where $SOLX holders will be able to create and launch their very own Tokens.

This is just the beginning of $SOLX domination.… pic.twitter.com/3990nDdRWu

— SOLAXY (@SOLAXYTOKEN) May 19, 2025

Less than a month left before the end of one of crypto’s hottest presales of 2025 – don’t miss out and secure your place for only $0.0017 per $SOLX. SOLAXY is where the future of DeFi is happening. Are you ready to be part of the revolution?

For the latest updates on the project, connect with the SOLX community on X and Telegram. 

VISIT SOLX HERE

DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now

Join The 99Bitcoins News Discord Here For The Latest Market Updates

Key Takeaways

Solana crypto price is down 4% today.

28 days left before the Solaxy presales campaign ends.