Solana at a Breaking Point: Fading Memecoin Hype and Alameda Unlocks Test the $140 Support Zone

Solana (SOL) is as soon as once more beneath intense market scrutiny as a mixture of fading memecoin exercise, declining person engagement, and steady token unlocks by Alameda Research places stress on one among crypto’s strongest 2025 performers.

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While institutional inflows through ETFs stay strong, Solana’s means to defend key technical ranges, notably the $140–$150 demand zone, will decide whether or not the asset stabilizes or slides into a deeper correction.

Memecoin Cooldown Sends User Activity to One-Year Low

Solana’s explosive rise in late 2024 and early 2025 was largely fueled by speedy memecoin launches and hyperactive retail hypothesis. But that frenzy has sharply cooled.

According to Glassnode and The Block, the variety of day by day energetic addresses has dropped to three.3 million, down from over 9 million at the begin of the 12 months, marking a 12-month low. Most of the decline comes from the disappearance of bots and short-term customers who flooded the chain throughout its speculative peak.

This slowdown has rapid penalties. Lower tackle exercise has translated into softer price income and thinner liquidity, making SOL extra delicate to market shocks.

Analysts warn that till new high-utility use circumstances, resembling funds, gaming, or real-world asset apps, entice stickier customers, Solana’s engagement metrics might proceed to oscillate with speculative cycles.

Despite this decline, Solana’s ecosystem stays essentially robust. Its DeFi TVL stands at almost $10 billion, supported by Jupiter, Jito, and Kamino, whereas builders proceed to construct stablecoin primitives, high-throughput shopper purposes, and institutional-grade infrastructure, resembling Firedancer.

Alameda Unlocks Clash With Record Solana ETF Inflows

Another main stress level is the ongoing month-to-month SOL unlocks from the FTX/Alameda chapter property. On November 11, Alameda unstaked 193,000 SOL ($30 million), a part of a vesting schedule that runs by 2028. These tokens usually discover their method to exchanges, creating short-term promoting stress.

However, institutional demand is delivering the reverse impact. Solana has now recorded 10–11 consecutive days of ETF inflows, totaling $336 million for the week.

Bitwise and Grayscale Solana ETFs collectively maintain $351 million, and even conventional establishments like Rothschild Investment and PNC Financial Services have disclosed new positions.

SoFi Bank’s transfer to allow direct SOL purchases from U.S. checking accounts has additional legitimized Solana inside the regulated finance sector. This tug-of-war, systematic promoting vs. accelerating inflows, defines Solana’s present volatility.

Technical Setup: $140 Is the Line in the Sand

SOL is buying and selling round $152–$156, having damaged under key help at $156 amid rising quantity. Indicators stay bearish:

• OBV continues trending downward, signaling persistent vendor dominance.
• Market construction exhibits decrease highs and decrease lows since early November.
• Liquidity heatmaps reveal robust magnetic zones at $144 and $140, making a retest extremely possible.

Analysts view $140 as the essential help space. If it fails, liquidity extends towards $120, opening the door for a deeper correction.

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But a profitable protection may set off a sharp rebound towards $165–$180, particularly if ETF flows stay regular and Bitcoin holds above the $98k–$100k vary.

Cover picture from ChatGPT, SOLUSD chart from Tradingview