Overall, Solana's price has fallen over 60% since January, currently trading around $120, influenced by the significant unlocking of staked tokens on April 4, 2025.

Technical analysts are closely watching the $120 price level for SOL, which is considered a critical make-or-break zone due to its historical significance.

The recent price decline of 15% in Solana can be attributed to the release of approximately 1.79 million staked tokens, which created selling pressure.

Despite the price fluctuations, Solana's decentralized exchange (DEX) volumes remain robust, commanding approximately 24% of the DEX market share, outperforming competitors like BNB Chain and BASE.

Solana's TVL has reached around $6.5 billion, surpassing BNB Chain by over $780 million, indicating its strong performance in the decentralized finance (DeFi) sector.

The current downturn in the crypto market is seen as a potential buying opportunity, reaffirming trust in Solana and the potential for meme coins.

Investors are also considering notable meme coins such as Solaxy, BTC Bull Token, and Fartcoin, which have shown promising presale performances.

The ongoing growth of the Solana network could lead to a price recovery for SOL in the near future, as increased DeFi activities typically drive short-term price spikes.

As always, investors are advised to proceed with caution and conduct thorough due diligence before making any cryptocurrency investments.

The Solana network is experiencing a resurgence, with its Total Value Locked (TVL) reaching its highest level in nearly two years, despite a recent 9% drop in SOL's price.

Currently, Solana's price has dipped below $100, reflecting an 18% decrease in the past 24 hours, yet trading volume has surged by over 257%, signaling strong investor interest.

In the last month, Solana's TVL has increased by 53.8 million SOL, marking a 14% rise since June 2022, driven by heightened investor confidence and network participation.