Why did Solana go bankrupt? Is the reason why PI coins are listed on Binance?

Solana's recent price decline may be related to the potential Binance listing speculation of Pi Coin (PI). Binance's poll showed that 86% of participants supported the listing of PI coins, which could attract a large amount of capital to flow into PI, causing some Solana investors to turn to PI.

Solana price plummeted: Will PI coins replace SOL and become the first choice for investors?

Solana (SOL) price has fallen sharply recently, falling 16% last week and 37% last month. Loss of key support levels has heightened investor concerns. While the overall crypto market downturn is partly responsible, the panic selling of traders has exacerbated the decline.

Solana network activity has dropped significantly, with transaction volume plummeting from $1.99 billion in November 2024 to $14.57 million (Glassnode data), raising concerns about the long-term prospects of SOL.

Whale Sale: A huge $198 million sale shocked the market

Solana Whales recently sold $198 million worth of $1,366,028 SOL and transferred to FalconX, which then transferred some of the SOLs to Binance and Coinbase, further exacerbating the market's selling pressure.

This large-scale sell-off triggered panic among retail investors, with trading volume falling 18% to $13 billion, and the market was highly bearish.

Solana faces a key support level of $130

Crypto analyst Ali Martinez pointed out that the SOL price trend is showing a bearish technical pattern. If the key support level of $130 cannot be maintained, it may fall further to $65.

Glassnode's net unrealized profit/loss (NUPL) indicator shows that Solana investor sentiment has turned into "fear", in sharp contrast to optimism in the previous months.

Is the listing of PI currency Binance the reason for the decline of SOL?

The potential listing of Pi Coin (PI) may also be one of the factors behind Solana's decline. Binance poll showed that 86% of participants supported the listing of PI coins, which could cause funds to flow from Solana to PI. After the PI currency is listed, the expected return is 100 times.

Will traders abandon Solana and turn to Pi Coin?

Pi coin price has risen 21% to $1.90 recently, with trading volume soaring 22% to $878 million. Solana prices fell 50% from their 2024 high of $264, aggravating speculation that investors are shifting funds from SOL to PI. After Binance launched PI currency, more than 200 million users may drive the price of PI currency to soar further.

Solana Price Forecast: Key Support and Resistance Levels

Solana is currently close to the key support level of $103.84 (0.786 Fibonacci retracement). Holding this support level may rebound to $260.91 (short-term resistance), $314.58 (medium-term target) or even $377.29 (long-term bullish target). But if it falls below $103.84, it may accelerate to $65.

The future direction of Solana?

Solana prices fell sharply, affected by market downturn, whale sell-offs and changes in investor sentiment. The potential listing of PI coins may further divert investment in SOL. Whether Solana can rebound depends on whether it can hold the key support level and break through the resistance level. The listing of PI coins may further weaken the attractiveness of SOL. Investors need to pay close attention to Solana's price trend and judge whether it is a value investment opportunity or a sign of further decline.

Solana Long-term Price Forecast (2026-2036)

The following is Solana's long-term price forecast, for reference only and does not constitute investment advice:

(The content of the form is the same as the original form, omitted here)

Is SOL a good investment?

Investing in Solana depends on your risk tolerance. SOL has fluctuated significantly recently, so you need to study it carefully before investing.

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