Solana managed to claw its way back above the $100 mark on Monday after briefly dropping to around $95 during early morning trade. The bounce came even as the broader crypto and global stock markets saw steep declines, with red dominating across the board.
At last check, SOL was trading at $101.91, down more than 14% in the past 24 hours. The cryptocurrency has lost around 13% in a week and nearly 25% over the last month. Solana saw a massive surge in trading volume, up over 315%, reaching $6.74 billion in the last 24 hours.
The rest of the crypto market didn’t escape the slump either. The overall market cap has dropped to $2.4 trillion, down about 9.5% in just a day. Global stock markets also tumbled, pointing to a broader market downturn.
What makes the timing even more striking is that just two days ago, crypto analyst Davinci Jeremie had predicted a huge rally for Solana. In a post on X, Jeremie said he expects SOL to jump 20 times its current value in this cycle, citing the memecoin boom—driven in part by Donald Trump’s involvement—as the reason.
Jeremie thinks Solana is in a strong position to ride the memecoin wave, mainly because it’s cheap to use and fast—two things that matter when tokens start trending.
For now, the focus is on whether Solana can stay above the $100 mark. If it holds, the next big test will be breaking past $127. But if the broader sell-off keeps up, slipping back below $100 is still a real possibility.
