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Analytics Firm Issues Warning, Says Ethereum Rival That's Up Over 150% Year-to-Date Losing Steam

Crypto analytics firm Santiment has warned that Solana's recent rally may be losing momentum after being propelled by the liquidation of shorts. The firm suggests that the best time to have bought into Solana was during the second week of June when funding rates had bearish spikes.

Santiment also notes that Solana's declining social dominance since the start of the year may indicate a lack of support for the current price level. Despite a 152% increase since December 2022, the firm suggests that the probabilities of prices continuing to climb without the aid of shorts being liquidated are certainly lowered.

Solana Rally Liquidation
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