Solana drops 40% – Can it recover before March’s token unlock? – BitRss

• Solana struggled with a 40% price drop, driven by memecoin concerns and market uncertainty.
• The imminent unlock of 11.2 million SOL ($171.05) tokens could pressure Solana’s price further.

Solana [SOL] is facing significant headwinds, with a 40% drop in value since January, driven by concerns over the rise of memecoins and a recent rug pull involving the LIBRA token.

To compound these challenges, DEX trading volumes have sharply declined, while the upcoming unlock of 11.2 million SOL tokens on the 1st of March is expected to apply further pressure on the market.

As major investors prepare to liquidate their holdings, Solana’s future remains uncertain,