Solana Price Plunges Towards $100 Amid Global Market Volatility

Solana's price has dropped by 3.5% over the past 24 hours, placing it at risk of falling below $100.

The token currently trades near $101 on CoinGecko, following a decline from the $104-$105 area and touching roughly $100.60 during the latest drop.

Despite remaining up 1.1% over the past seven days and 34.5% over the past 30 days, Solana's price is being pressured by higher energy prices, which have raised concerns over US inflation ahead of key data releases and the Federal Reserve's decision next week.

The risk-off move across global markets, including oil prices rising above $100 per barrel due to the US-Iran conflict and attacks on shipping disrupting energy flows through the Middle East, has also contributed to Solana's decline.