The Solana price hovers near $161, extending its February slump amid bearish sentiment and deepening red momentum bars on key indicators. Many derivatives traders anticipate further losses, bracing for a potential move below $180 if selling pressure dominates.
Meanwhile, a new meme coin—Panshibi (SHIBI)—has raised over $1.1 million at $0.005, sparking hope that meme coin tokens might draw investor attention even if Solana’s fate looks grim. As the market wavers, questions arise about whether Solana can overcome its weak indicators or if Panshibi will seize the spotlight.
What you'll learn 👉
Bearish Outlook for the Solana Price
Recent data suggests that Solana’s price could dip below key supports if current trends persist. The Forecast Oscillator stands at -4.56, showing decaying bullish momentum, while the MACD line at -1.71 lingers under the signal line (-6.69). This configuration of lower highs and negative histogram readings implies a steady slide, reinforced by a derivatives market leaning heavily on short positions.
Should sellers push beneath $180, technical analysts see a quick drop toward $175, or worse, if short bets pile on. Yet an overextension of negative sentiment could trigger a short squeeze, setting the stage for a sudden reversal. If bulls manage a sharp rally above $190, some traders foresee a swift climb to $208, clawing back lost ground. Still, the Solana price remains fragile for the moment, pinned between cautious longs and assertive shorts.
Leverage data from Coinglass shows active short vs. long positions grouped around 20% boundaries relative to current levels. This close balance hints that any abrupt liquidation of one side could spark a strong directional move. So while the Solana price is $17, opportunistic buyers might lurk, eager to exploit extreme short positioning. Whether sellers maintain their grip depends on sustaining downward momentum across momentum oscillators and the lack of bullish catalysts.
Panshibi Presale Surges Amid Uncertain Solana Price
As the Solana price teeters, Panshibi (SHIBI) attracts crypto enthusiasts with its meme coin panda theme and security-focused design. Priced at $0.005, the presale has surpassed $1.1 million, demonstrating that meme coin mania thrives if the tokenomics inspire confidence.
Liquidity is locked for 10 years, team tokens remain locked for two, and an audit provides a layer of transparency. These measures aim to reduce the volatility that often dogs meme coin coins post-launch.
Beyond meme coin branding, Panshibi uses an AI-based “social-fi” approach, encouraging user engagement via staking, quests, and community activities. Early adopters see the potential for bigger returns if the next meme coin wave reignites, especially if top-tier coins like Solana keep struggling.
Observers argue that capital often shifts into newer meme coin tokens, promising quick upside when larger altcoins falter. This dynamic might favor $SHIBI as risk-tolerant traders jump from a declining Solana price into a fresh project with robust security steps.
Should Panshibi gain listing opportunities or a strong social media push, it could extend its presale momentum well beyond $1.1 million. Some expect a multi-fold price surge if meme coin appetite aligns with locked liquidity—a stark contrast to a faltering Solana price’s overshadowed push and pull. As meme coin cycles often pivot on hype, fundamentals, and market sentiment, Panshibi’s blend of humor and security could drive significant interest once the presale concludes.
Conclusion
Though the Solana price flirts with deeper losses around $162, a final breakdown under $165 might accelerate bearish targets near $175 or below. Alternatively, a short squeeze could jolt SOL upward to $190, even tapping $208 if momentum flips bullish.
In the meantime, Panshibi (SHIBI) embraces the meme coin mantle at $0.005, surpassing $1.1 million in presale funding and providing a potential shelter for traders fleeing Solana’s uncertain waters. Whether Solana stabilizes or Panshibi becomes the next viral token, both stories underscore the unpredictable nature of crypto, where humor, sentiment, and technical triggers can abruptly redefine market winners.
You can participate in the Panshibi presale here:
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