$88 SOL, are you going to buy the dip?

Public companies are nearly $1 billion in unrealized losses, major investors sold off net $9.2 million in the past 24 hours, price dropped below $90, RSI directly hit 17.3—extremely oversold. But just five days ago, Visa, Western Union, and Meta simultaneously reached out to Solana, Firedancer 1.0 just went live.
First look at the surface: blood flowing, panic spreading.
In the past 24 hours, it fell 3.6%, bottomed at $88.4, market cap dropped below $52 billion, net outflow of $9.2 million in 24 hours. Price from the all-time high of $294 has fallen nearly 70%, public company holdings average $232, now unrealized losses close to $1 billion—could break under pressure at any moment.
In May, ETF inflows exceeded $90 million, total inflow broke $1.05 billion, institutions are buying against the trend. The candlestick chart shows that the price has been oscillating in the $85-$100 range for a month, today’s drop increased volume, but the lower Bollinger Band was broken through.
First thing: payment giants are not here to just watch.
Western Union announced in May that stablecoins will be used for payments, connecting over 200 countries worldwide, cash directly exchanged for USDPT on Solana. Visa’s stablecoin settlement on Solana has an annualized volume of $7 billion. Meta supports USDC direct payments to Solana wallets in Colombia and the Philippines.
Second thing: Firedancer 1.0 is already live on the mainnet.
On May 5th, Firedancer officially launched on the mainnet. TPS increased by an order of magnitude, stability greatly improved. Then, Alpenglow consensus upgrade entered community validation, aiming to reduce finality from 12 seconds to under 150 milliseconds—faster than Visa.
Third thing: RWA holders exceed 200k, SOL-denominated TVL hit a new all-time high.
Don’t look at the USD TVL falling back; the SOL-denominated TVL has already surpassed 80 million SOL, hitting a record high. Total RWA locked value exceeds $2.5 billion, with over 200k holders.
On one side:
- The three payment giants are entering simultaneously, Firedancer is online
- RWA + DePIN + AI Agent blooming in multiple areas
- Spot ETF inflows exceeding $1.05 billion, institutions are buying against the trend
- Active developers increased by 45% quarter-over-quarter, surpassing new Ethereum registrations
- SOL-denominated TVL hits a new high
On the other side:
- Public companies hold 6.97 million SOL, average cost $232, unrealized losses nearly $1 billion
- 24-hour net outflow of $9.2 million from large investors, selling pressure evident
- RSI dropped to 17.3, extremely oversold, short-term panic sentiment skyrocketing
- Price broke below $90, next psychological level is $85
Key levels: $88-$90, the last line of defense for bulls and bears.
Resistance above: $93-$94 → $97.5 → $100-$106
Support below: $85 (0.382 Fib) → $78-$80 (extreme limit)
Short-term traders:
At this level, RSI 17.3, a technical rebound could happen at any time. But don’t rush to buy the dip—wait for an increase in volume with a bullish candle on the hourly chart or a retest around $85-$86, set stop-loss at $82, target $93-$95.
Long-term players:
Dollar-cost averaging below $85. Firedancer + Alpenglow + payment narratives are resonating together, aiming for $150-$200 by the end of 2026.