Solana Dips Below $180 as Trading Volume Surges Amid Developer Boom

Solana’s price broke below critical support signaling ongoing bearish momentum and a possible deeper correction ahead.

The market cap fell below $100 billion reflecting volatile trading and strong investor activity throughout October.

Solana welcomed 11,534 new developers in 2025, this shows strong network and steady ecosystem growth.

Solana (SOL) sliding over 19% in the past week. Still, market activity remains high, with $10.7 billion in trading volume, showing traders are staying engaged despite the recent dip.

Price Patterns and Market Signals

A recent analysis by veteran trader Dixon using Elliott Wave theory shows that Solana finished a five-wave rise and then a correction. The price pulled back into a “BUY ZONE” between $182 and $177.15, near a key Fibonacci level

This was a sign that a bigger move up could follow.But after that, the price fell below the “BUY ZONE” and now trades around $176.34 after bearishly breaking support at $177.15

The price is making lower highs and lower lows, showing a downtrend which means the correction is getting bigger. If Solana fails to reclaim $177, it might fall further toward $172–$170. Only stronger signs like more volume or RSI signals, could get the price back on a rise.

Market Value Changes

Solana’s market value has been quite volatile recently. It started the week near $120 billion but quickly dropped below $100 billion by October 11. It bounced back a bit around October 13–14, reaching about $112 billion, but this didn’t last.

After that short recovery, the market cap fell again below $100 billion by October 17. No big moves from large investors were seen. Trading volume stayed steady, meaning people are still active in the market .

Looking back, Solana’s market value is still recovering but facing challenges from a shaky crypto market overall, because it remains well below its peak from 2021–2022.

Growing Developer Community

Even with price ups and downs, Solana’s developer community is growing fast in 2025. A recent chart shows Solana added 11,534 new developers from January to September, second only to Ethereum and beating Bitcoin’s 7,494.

It means many developers want to build on Solana because of its speed and low fees. More developers usually lead to more apps and projects on the platform. This growth could help Solana stay competitive and improve in the future.

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