Key Takeaways
- Degen Trader speculates that crypto whales are off Solana DEX following a decline in trading volume.
- Solana memecoin trading volume has seen a significant decline since February 2025, which has impacted the SOL price.
- SOL’s price could see a massive price rally following a resurgence in the trading volume of Solana memecoins.
Solana memecoin has seen a significant decline in trading volume across decentralized exchanges over the last few months, with on-chain analytics platforms like Dune Analytics highlighting this trend. This decline has impacted the price of Solana, hindering its potential to rally to an all-time high.
Will Solana’s price rally to higher price points following a decline in trading volume? Degen traders believe that the decline in trading volume over the past few months could be a sign of whales leaving the Solana decentralized exchanges.
While this could be true, Solana has demonstrated strong momentum in the last couple of weeks despite the price falling short of a potential price rally to the upside of $200.
Let us analyze why such a conclusion would be reached regarding the reduction in Solana trading volume and how this has affected the price action of SOL.
On-chain Analytics Show Reduction In Solana Memecoin Trading Volume
Source – Solana Trading Volume on Dune
Solana’s highest trading volume experienced a significant surge around September 2024 across many DEX platforms, resulting from a surge in Solana memecoin trading that hit new highs. However, the trading volume has seen a significant crash since the start of February 2025, recording a new low.
However, the trading volume of Solana’s memecoin has been showing strong growth over the last few weeks, indicating a potentially bullish market sentiment for Solana’s price to reach new highs, as expected by many traders.
However, Greenytrades believes the drastic crash in Solana memecoin trading volume has been a result of whales leaving memecoin trading, leading to such a crash, as this has also affected the price of Solana.
However, the price of Solana has begun showing signs of recovery in the past couple of weeks, as it could see a potential rally coupled with rising trading volume in Solana memecoins.
Solana (SOL) Price Analysis
Source – SOL Price Chart From TradingView
The price of SOL has shown strong bullish price action following the recent price crash to a low of $146, acting as key resistance for the price. The price on the 1HR timeframe has formed swing highs, confirming a potential price rally to the upside after tapping into the key demand zone.
A breakout for SOL to the upside above $200 could lead to a strong rally toward $295, acting as a key psychological resistance level for the price. For the price of SOL to trade toward this zone, the price must protect the key demand area of $146.