The consequences of growing Solana skepticism have been dire, based purely on numbers. From a peak price of $258.78 on Nov. 6, 2021, Solana’s SOL token has declined to just over $10. That’s a drop of 96%, vastly sharper than the drawdown from peak for BTC (-74.5%) and ETH (-74.6%). It’s even a sharper drop, incredibly, than dogecoin (DOGE) has seen in the bear market – the meme coin is down a mere 76% from its October 2021 local high, though it’s 87% down from its May 2021 all-time high.

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