Solana Price News: Is SOL On Its Way to $110 as Network Fees Hit 6-Month Low?

Although dollar-based fees are dramatically impacted by the price of SOL, they have also hit their lowest point in the past 6 months in SOL terms.

The market cap of meme coins has shrunk by 65.2% since it hit its peak in December last year and most of the assets in this category have now seen their price drop to pre-election levels or lower.

Meme coins are an important piece of the Solana ecosystem as they drive significant transaction volumes to the network. However, most of the assets in this category have experienced significant drops since the year started.

For example, dogwifhat (WIF) has lost three-quarters of its value in 2025 while Pudgy Penguins (PENGU) has gone down by 84.5%. Meanwhile, newcomers like Official Melania Meme (MELANIA) have experienced even worse drops, with the latter exhibiting a 90.7% year-to-date loss.

SOL Bounces Off $110 as Sellers Take Breather

Trading volumes for SOL have dropped by 30% in the past 24 hours and currently sit at $3.3 billion. This indicates that market volatility may be subsiding, primarily as sentiment has depressed to record-low levels.