6.11 SOL: A Meat Grinder More Ruthless Than a Concubine

$SOL
Brothers, today the worst hit is SOL, currently struggling at 64.5-65, barely clinging on. Yesterday it dipped to 62.34 at the lowest, almost breaking through the previous low. Honestly, SOL's current trend is the ugliest among the three main mainstreams. Don’t think it’s cheap just because it’s fallen nearly 80% from its high and want to buy the dip; its decline is mainly because it’s inherently garbage.

A rebound is a trap: 66.5-68 range is a trap, with a potential surge to 70, watch 62.5-60.

In this round of decline, SOL is the leader in falling, with fundamentals rotten to the core:

The myth of "ETF zero outflows" that was hyped before has been completely shattered. Last week, it experienced a net outflow of $6.52 million, ending four consecutive weeks of inflows. Institutions are fleeing faster than rabbits.

There was a massive token unlock in June, with early investors and project teams dumping tokens daily. This ETF inflow is simply not enough to fill the gap.

Funds are frantically shifting towards Bitcoin, which now accounts for 58%, and SOL is now just a discarded pawn that no one wants.

The Solana summit on the 16th next week has long been overhyped and exhausted. When the time comes, it’s likely to turn from "positive news into negative" #美国5月CPI创三年新高