Solana's SOL token recently struggled to maintain its price above $200, dropping 5.1% as the broader crypto market dipped 3.5%. Concerns are rising due to a 30% decline in Solana's onchain network volumes over the past week. Despite ranking second in weekly DApp volumes, Solana's performance lagged behind competitors like Ethereum. Memecoins on Solana also faced declines, with Popcat and Dogwifhat dropping over 40%. However, SOL futures show resilience, maintaining a neutral-to-bullish sentiment. While short-term prospects appear bearish, market makers remain cautiously optimistic.