Market Panics as Solana (SOL) Drops Below $100 For The First Time Since February 2024

Solana (SOL), the 7th most valuable altcoin by market cap, has hit a significant dip for the first time this year. The altcoin left market players in shock after dropping below the $100 price mark on April 7, 2025, for the first time since February 2024.

The new development comes not long after the altcoin recorded a mild jump in price, following its addition to leading online payment systems PayPal and Venmo.

Factors driving the downtrend might include the impact of President Trump’s political tariffs and negative futures trading. Social sentiments are currently split between traders, with some seeing the decline as a dip-buying opportunity while others fear incoming or extended market volatility.

Interestingly, SOL made a quick correction, jumping above the $100 price mark after snagging in mild hourly gains. However, technical signals hint that the asset is still in troubled waters. The RSI is still extremely oversold, while the MACD crossover remains bearish. Open interest rates are also declining at this time.

Market participants have collectively reacted in shock, expressing surprise over the new development. “I honestly cannot believe SOL is back under $100. It was nearly $300 a few months ago.” Quinten, a cryptocurrency founder, wrote on X, formerly Twitter.

Pseudonymous trader Lana Queen, who observed SOL’s continuous decline from the first quarter of the year, is quoted as stating, “SOL is down 65% from ATH in the last 90 days. Is this the golden crypto era?”

At the time of this report, Solana (SOL) is trading for $107. Over the past 24 hours, the asset has lost over 6% of its gains and 15% of its price value over the last 7 days. The bullish build-up over the last 1-hour has resulted in a 3.27% price jump at press time.