Solana Faces Uncertainty Amid DEX Volume Drop and Mixed Predictions

The daily trading volume of decentralized exchanges on Solana has significantly declined, dropping from over $1.5 billion to $984 million in just three days. This decrease, linked to reduced interest in Solana-based memecoins, could push SOL's price to test lower support levels around $145.90. Additionally, Solana's Open Interest has also fallen, indicating waning market strength and potential further price drops. Solana is also facing increased competition from other blockchains like Aptos and Sui.