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The Solana price dropped 7% in the last 24 hours to trade at $185.88 as of 4:40 a.m. EST on trading volume that surged 12% to $11.55 billion.
The SOL price suffered a drop following recent news that Burwick Law filed a lawsuit against Pump.fun, Jito Labs and Solana Labs for allegedly running an unlicensed digital casino and draining billions of dollars from investors through speculative meme coin trading.
Solana Price Prediction
In response to the lawsuit, Solana experienced a price dip, dropping from $205 on July 23 to $180.64, after which it saw a slight recovery to $185.88, where it currently stands.
On the weekly chart, Solana is still up by over 6%, and since its price is already showing signs of recovery, the coin could see a surge back to $190 throughout the day. Its Bollinger Bands have seen a widening as well over the last several hours, which could be taken as a bullish signal among traders.
SOL/USDT chart analysis (Source: TradingView)
Solana’s Relative Strength Index (RSI) experienced a significant decline yesterday following the news of the lawsuit. The popular metric, which had previously hovered on the edge of the overbought zone at 70, stood at 16.29, deep in the oversold zone.
Some traders moved in to buy the dip, allowing the RSI to climb back up to the value of 60 in the early hours of July 24. Since then, however, the metric once again dropped to the oversold zone, and went back up to the value of 50, which is where it sits at the time of writing.
That suggests that traders are quick to sell in expectation of adverse developments, but there are also those willing to take the chance to profit from sharp price movements.
Promising Alternative To Solana
With the uncertainty surrounding Solana, investors are buying Snorter Token (SNORT) — a Solana-based cryptocurrency associated with a newly developed meme crypto trading bot.
Snorter enables investors to remain within the SOL ecosystem while targeting a new, high-potential cryptocurrency that is currently in its ICO phase. As such, Snorter is selling at a cheap price, but has great potential to skyrocket once it goes live.
As mentioned, the SNORT token is a native crypto of a new trading bot called Snorter, illustrated as an adventurous aardvark that blends the fun associated with meme coins with real crypto trading prowess.
Trying to sleep at night knowing that it only takes 1 good trade to become a millionaire pic.twitter.com/zXLslnBIRV
— Snorter (@SnorterToken) July 23, 2025
As a trading bot, Snorter can monitor the market and process new developments instantly, allowing it to spot new opportunities and react to them much faster than a human trader. It also offers some highly desirable perks, reserved for its early investors, such as exclusive access to new tokens, low fees, fast execution, and increased security for traders.
The project also garnered significant attention from crypto experts, including ClayBro, a YouTuber with over 136k subscribers. In a recent video, ClayBro speculated that the project could be the next 10x crypto.
So far, the presale has raised over $2.33 million, with more funds being poured into the ICO every day. If you wish to join other early investors, buy SNORT tokens now, while they’re still priced at only $0.0991 apiece. Buy before a presale price hike in around 21 hours.
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