Solana Fell Behind USDC: Can SOL Survive the Selloff?

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Ah, Solana, once gallantly perched as the fifth-largest digital asset, now finds itself sulking in the shadows of USDC, the mighty stablecoin. Once valued at $106.7, with a market cap of $55.02 billion and a daily trading volume of $6.64 billion, Solana has sadly given way to USDC’s quiet dominance. It seems that all it took was a little nudge—well, actually a rather forceful shove from President Donald Trump, who decided tariffs were the best way to “help” the global economy. 😬

What followed was nothing short of a crypto bloodbath! Whale-sized sell-offs, triggered by the dread of uncertainty, left poor SOL gasping for air. Two whale addresses, the kind that could make the average investor quake in their boots, offloaded a jaw-dropping $26 million in SOL tokens. 💸

Whales are dumping $SOL!

4W1Ree unstaked 159,028 $SOL($16.5M) and sold 60,000 $SOL($6.13M) at $102, just 4 hours ago. The horror!

5cPair sold 89,734 $SOL($9.67M) at $108, merely 14 hours ago. These whales are ruthless!

— Lookonchain (@lookonchain) April 9, 2025

With all this chaos, Solana was swiftly relegated to the seventh spot in the rankings, with a market cap now hovering around $55 billion. SOL’s value is stubbornly hovering between $100 and $111, currently sitting pretty at $107. And to make matters worse, it experienced a staggering $19.6 million in liquidations, as long positions were flushed down the drain like last season’s fashion trend. 💔

Can Solana (SOL) Recover? The Million-Dollar Question…

Ah, but what’s this? The ever-optimistic crypto analyst Ted Pillows has spotted a flicker of hope in the wreckage. Could this be the same price pattern that led to a meteoric rise in Q3 2023? Will Solana rise like a phoenix from the ashes, much like it did when it started its bull run from a humble $20? Or will it simply stay in its $100-$111 limbo? 😏

$SOL just bounced back from its multi-year support trendline. Hark! A glimmer of hope!

Last time Solana retested this, it skyrocketed 1,000%. Will the heavens smile upon us again?

— Ted (@TedPillows) April 8, 2025

And then, of course, t 🎢

$SOL 1D chart – A tale of woe and wonder

Well, $SOL broke the August 5 low 📉

Now #Solana is officially cooked. Even the most ardent solana moonboys can’t deny it. What’s next? Well, I’m expecting a bounce to ~$200 (Lower High) followed by a sharp dive into wave C ($30-$40). 😜

— CryptoBullet (@CryptoBullet1) April 8, 2025

But wait, dear reader, the market’s unpredictability adds spice to this already hot mess. The global tariff war has injected an unsettling dose of uncertainty, making the crypto market as reliable as a weatherman in a hurricane. 🌪️ Some say Bitcoin is heading toward its own bear market. Who really knows? But let’s face it, even the Bitcoin market cap ratio suggests a lengthy slumber before we see another bull run. 🐻

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2025-04-09 14:30