Solana down 45% since Trump token launch as memecoins divert liquidity

The growing appetite for memecoins may be limiting Solana’s price performance, industry insiders told Cointelegraph.

Solana’s price continues to struggle under pressure from the growing memecoin market despite showing resilience following its largest-ever token unlock.

Solana (SOL) fell over 45% since the Official Trump (TRUMP) memecoin was launched, from over $261 on Jan. 18 to $143 on March 2, TradingView data shows.

The growing investor appetite for memecoins may be limiting Solana’s price performance, according to Dan Hughes, founder of the decentralized finance platform Radix.

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