solana (SOL) Price Dropped as Bitcoin Bull Max Keizer Says ‘The Rug Pull Has Begun’
The price of SOL, the native token of smart contract platform Solana, saw a brief drop of over 11%, which was enough for Max Keizer, a well-known Bitcoin bull, to suggest that “his mood is starting to pull out.” ”
Solana’s price has fallen from its recent high of $123 and is currently trading at $94.8 after falling more than 22% from its peak amid a broader correction that also affected the prices of altcoins such as XRP, cardano, Avalanche, and polkadot.
In the decline, Bitcoin evangelist Max Keizer, who said the value of his Bitcoin investment has increased by over 20,000,000% since he first purchased the flagship cryptocurrency in 2011, claimed that the “lottery lottery has begun” for investors betting on Solana. .
Notably, Solana’s price correction comes after the cryptocurrency surged more than 600% last year, outperforming most other major digital assets. Solana’s price was affected by the collapse of the cryptocurrency exchange FTX, whose founder Sam Bankman-Fried was a staunch supporter, causing the token and its ecosystem to be affected by this association. Bankman-Fried was recently convicted of wire fraud and money laundering.The carpet pulling process has started, anon.
pic.twitter.com/tB3sUrHvFB
— Max Keizer (@maxkeiser) December 26, 2023
Solana’s ecosystem is witnessing growing adoption with its Saga smartphone, which once faced slow sales and recently sold an airdrop of over 30 million lucrative bonk tokens for each new owner of the phone.
However, analysts believe the price of SOL may continue to rise, with a popular cryptocurrency strategist who gained a large following on social media after correctly spotting that Bitcoin’s 2018 bear market bottom was above $3,000, predicting a major rally in the near future.
Featured image via Unsplash.
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