SOL short-term may have already peaked!
As one of the most watched public chains in this round, SOL has risen from a low of $8 to a maximum increase of over 30 times, and even doubled in the past month, showing very strong performance. Despite being influenced by the MEME craze, SOL has not shown significant pullbacks, but recently the MEME projects within its ecosystem have begun to show signs of fatigue, particularly projects like GOAT, LUCE, BAN, SLOP, PNUT, ACT, which, although they brought wealth effects, have gradually lost their luster.
Especially the Desci projects within the SOL ecosystem, although they are hot topics, have not been as strong as expected, and the overall market has entered a period of wealth vacuum, with many projects obtaining large amounts of SOL, creating potential selling pressure.
Currently, the price of SOL has reached the high point area of the 2021 bull market, where selling pressure is significant, and many investors may choose to take profits in this range. In addition, market expectations for ETFs are not as strong as before, and Wall Street's focus remains on Bitcoin, while other public chains like ETH, XRP, LINK, AVAX may also benefit from ETFs, thus the favorable expectations for SOL's ETF are gradually decreasing.
