Solana Plunges: Can Pump.fun Reboot Spark a Recovery?

Solana (SOL) is experiencing a significant downturn this week, mirroring a broader market sell-off that has impacted cryptocurrencies and traditional financial markets alike. The price of SOL has dropped over 16%, plummeting to $100.32 and losing its position as the fifth-largest cryptocurrency by market cap to Binance Coin (BNB). This steep drop is driven by bearish pressure in the broader market, further exacerbated by trade tensions between the US and its trading allies.