Solana in a corner: Rumors about investigation cause share price to plummet

Quite a few traders are starting to become suspicious of the recent developments surrounding Solana (SOL). The price of this digital asset has fallen by almost 25% in the past 30 days, causing concern among traders and well-known crypto influencers alike. What’s going on with Solana?

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Rumors of investigation into Solana

On June 24, well-known crypto influencer Crypto Bitlord a striking statement on the social media platform Although not confirmed, this claim combined with the recent price drop has attracted a lot of attention.

Possible reasons for an investigation

The Solana blockchain has experienced explosive growth in recent months, with more than 1 million new cryptocurrencies launched since April. This enormous volume of activity could warrant further investigation. In addition, there are concerns about possible illegal activities on the network. Like this LucieShib warneda marketing manager at Shiba Inu, recently for hacked celebrity accounts that publish Solana addresses.

Impact on the Solana price

The rumors and uncertainty clearly have an impact on the price of SOL. After a strong increase since October 2023 and a period of relative stability, Solana has now entered a downward trend. In the last 30 days, the price fell from $167 to $126.63, a decline of 24.84%. In the last 24 hours the price fell another 4.85%.

What does this mean for investors?

The current situation surrounding Solana raises many questions among investors. Some influencers even go so far as to predict the end of SOL, saying suggest that the Solana Foundation would not be able to defend its course under pressure from the authorities. However, it is important to emphasize that these claims have not yet been confirmed.

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