Solana Price Prediction: SOL Drops 8% Despite $4B in DEX Volume — Can Bulls Reclaim $135 Support?

Solana (SOL) experienced an 8% decline, tumbling from a $125.34 daily open to $115.39 lows following macro uncertainties stemming from the Federal Reserve’s decision to maintain interest rates unchanged at the benchmark 4.25–4.50% range. Despite the price decline, today’s Solana price prediction suggests bulls could mount a recovery toward $135 if the surging decentralized exchange volume translates into positive momentum for the SOL token. Solana Surpasses Ethereum, Base, And BNB In DEX Activities According to data from DefiLlama , Solana recorded the highest on-chain volume across all blockchains in the past 24 hours, approaching $4 billion, significantly outpacing rival chains including Ethereum ($1.74B), BNB Chain ($1.68B), and Base network ($1.16B). Source: DefiLlama Concurrently, active addresses have increased substantially, with over 2.7 million active wallets engaging in on-chain interactions this week. This surge is particularly driven by memecoins, which are displaying renewed signs of vitality. Since the October lows, memecoin activity has exploded. Solana launchpad tokens went from 113,772 to 239,127 – That’s roughly +110%. Launchpad graduations climbed from 575 to 1,796 – That’s around +212%. Creation is up. Graduations are up even more. Now fr, are memecoins… pic.twitter.com/U4Q0vr7oyQ — Solana Sensei (@SolanaSensei) January 28, 2026 The SOL token now needs to catch up and reprice accordingly. Over the past 12 months, the token has declined by almost 50% and has lost considerably more since reaching its peak of $294 in January last year. Analysts at Multicoin Capital believe Solana should be valued at least double its current $115 price, citing the network’s superior technology for payments, exceptional user experience, and near-zero transaction fees. This perspective aligns with recent statements from Solana founder Anatoly Yakovenko in an interview on the Impact Theory show: “What I care about is that we’re delivering consumer value that can be captured by the protocol. Those captures are future cash flows.” Solana Price Prediction: SOL Faces Critical Support Test at $116 The daily SOL/USDT chart reflects a market that remains structurally bearish, with recent price action reinforcing downside pressure rather than signaling a confirmed reversal. Solana is trading around $116–$117 after a sharp rejection from the $133–$135 region, an area now established as key overhead resistance. This zone aligns closely with the 50-day Exponential Moving Average and prior breakdown structure, indicating that sellers continue defending rallies aggressively. From a trend perspective, price remains firmly below the 50-day, 100-day, and 200-day EMAs, all of which are sloping downward. Source: TradingView This moving average alignment confirms the broader trend remains bearish, with recent rebounds appearing corrective rather than impulsive. The failure to reclaim even the 50-day EMA suggests bullish momentum is weak and lacks follow-through volume. The $116 level represents critical support and is currently being tested. This zone has previously functioned as a demand area, but repeated tests have increased breakdown risk. A clean daily close below $116 would likely open the door toward the next support around $110 , and potentially lower if selling accelerates. On the upside, any recovery attempt would need to first reclaim $134 with strong volume to shift short-term structure, which could then expose the $156–162 region as a higher recovery target, though that scenario currently appears less probable. 70% APY Staking: Maxi Doge Raises $4.47M as Memecoins Revive If SOL reclaims the $134 level and resumes a bullish trajectory, presale projects like Maxi Doge (MAXI) could attract capital from investors pursuing high-ROI opportunities in the expanding memecoin sector. Maxi Doge represents an early-stage memecoin following the Dogecoin playbook that generated over 10x returns during the 2023-2024 breakout cycle. The presale has established an alpha channel enabling traders to share strategies and ideas, mirroring community-building tactics from early Dogecoin days. The MAXI presale has raised over $4.5 million , offering participants 70% annual staking rewards at the current $0.0002801 price point. Interested investors can participate by visiting the official Maxi Doge website and connecting a crypto DEX wallet like Best Wallet. You can purchase $MAXI tokens using USDT, ETH, or a direct bank card for immediate access. Visit the Official Maxi Doge Website Here The post Solana Price Prediction: SOL Drops 8% Despite $4B in DEX Volume — Can Bulls Reclaim $135 Support? appeared first on Cryptonews .