Solana Price Plunges Over 75%, Market Cap Sits Near $43 Billion
Solana's price has been struggling to stabilize near the $69-$74 support zone after declining more than 75% from its peak of approximately $295. The token's market capitalization remains at around $42.8 billion, indicating a sharp contraction in Solana's valuation.
According to the chart, SOL advanced from about $8 to nearly $295 before falling back towards $69. This decline erased more than three-quarters of the rally and returned the token to an area that previously formed part of its base.
The next major test for SOL would be around $90-$100, a region that previously acted as support during the decline but could now become resistance if traders who bought at higher prices use a rebound to reduce exposure. A decisive break below $69 would weaken the developing base and increase the risk of a move towards the $60 area.