Will Solana price hold $180 after 30% drop in weekly DApp volumes?

Solana’s native token SOL 
SOL
tickers down
$184.75
failed to sustain levels above $200 after multiple rejections between Dec. 25 and Dec. 26. This movement aligned with the broader cryptocurrency market, which saw a 3.5% decline over two days ending Dec. 27. However, SOL underperformed with a 5.1% correction, raising concerns among traders about potential further price declines.

One key source of concern was Solana’s onchain network volumes, which dropped by 30% over seven days.

Solana's weekly DApp volumes, as tracked by DefiLlama, also reflected negative trends. Highlights include a 39% decline in activity for Orca and Phoenix over seven days, while Raydium activity dropped 30%. Of greater concern, memecoins on Solana, which have been a significant draw for new users, posted poor 30-day performance. Onchain activity—spanning token launches, staking, and trading—remains a crucial driver of demand for SOL.

Among memecoins, Pop…