Solana price risks a big crash in the coming days after forming a death cross pattern on the daily chart. SOL coin was trading at $140 on Wednesday, down by over 50% from its highest level this year.

Determining how many traders lost funds on Pump.fun is challenging, but some crypto researchers have attempted to estimate the scale. According to Sol Statz, as of Feb. 26, nearly 90% of meme coins launched through the platform showed only 0-1x growth—meaning most traders saw little to no returns.

The 2022 market meltdown, initiated mostly by the fall of FTX, rocked the crypto scene and left Solana (SOL) among the most badly affected assets. Initially a top-performing blockchain system, Solana lost over 90% of its value as its price dropped from over $250 to below $10.