Solana's (SOL) price has been under pressure, trading below $200 and down 13% over the past month. Current bearish indicators, such as the Ichimoku Cloud and ADX, highlight challenges faced by the cryptocurrency.
The blockchain community is questioning the rise of meme coin scams on the network, including concerns about apps like Jupiter and Pumpfun. Gino Borri criticizes Solana's leadership while Mert Mumtaz attributes problems to the network's scale.
Despite these issues, there remains potential for upward movement if resistance is broken above $209. Until then, the bearish sentiment persists with the community debating Solana's future.