The altcoin market at this second appears to be at a standstill: let’s take a more in-depth take a look at the worth developments of SOL (Solana), SUI, and SHIB (Shiba Inu).
Solana (SOL), SUI e SHIB (Shiba Inu): the present worth evaluation
Throughout 2025, the development of the worth of SOL, the native cryptocurrency of Solana, was not nice.
Certainly, in some methods it would even appear regarding.
Suffice it to say that each SOL and BTC have reached new all-time highs in 2025, however whereas Bitcoin is now down solely -6% from these highs, Solana is even at -51%.
Furthermore, Bitcoin recorded new highs only a month in the past, whereas these of Solana date again to January. From February onwards, BTC first fell, after which rose once more, whereas SOL fell loads, and rose little or no.
Suffice it to say that on the finish of October final yr, earlier than the mini-altseason of November triggered by the Trump commerce, the worth of SOL was effectively above $150, whereas now it has dropped to $145. Moreover, in April it hit an annual low of $105, a worth not seen since February 2024.
The issue appears to be associated to memecoin.
Over the last main bull run crypto (the one in 2021), the worth of Solana reached a peak of about $240, however then in the course of the subsequent bear market, it plummeted beneath $10.
It started to get better on the finish of 2023, first with a standard rebound above $50, after which notably because of the memecoin.
In truth, because of very low charges, many new memecoins have been launched on Solana, which from this standpoint has taken the place of Ethereum. The growth of memecoins on Solana allowed the worth of SOL to rise above $190 initially of 2024, after which after a return to $120, to rise to over $190 in January of this yr.
It ought to be remembered that the charges on transactions of any token on Solana, together with memecoin, should essentially be paid in SOL.
This dynamic, which lasted for a couple of yr and a half, appears to have resulted in February of this yr, with the worth dropping first beneath $120 after which additionally beneath $110.
The rebound of the final two months hasn’t been a lot, a lot in order that the worth continues to be beneath $150.
Shiba Inu (SHIB)
SHIB is the token of Shiba Inu, some of the necessary memecoins on the planet.
SHIB is the second memecoin on the planet by market capitalization, behind solely DOGE of Dogecoin.
Dogecoin capitalizes greater than 25 billion {dollars}, whereas Shiba Inu stops just below 7 billion. In third place is PEPE with simply over 4 billion.
Dogecoin, nonetheless, just isn’t solely the primary memecoin to have been created, again in 2013, however it stands by itself, particularly because of the assist it acquired up to now from Elon Musk.
Due to this fact, it’s Shiba Inu, and never Dogecoin, that finest represents the bull market of memecoins.
The very first thing you discover is that the present worth of SHIB continues to be even 87% decrease than the all-time highs of 2021, which it has by no means even come near once more, not even in the course of the mini-altseason of November 2024.
In truth, it’s even 37% decrease than the worth twelve months in the past, because of a collapse that occurred in the previous couple of months in two phases, one between January and March of this yr, and an much more current one in Could. This collapse nonetheless appears to be ongoing, though it’s potential that in the end it can cease.
The lows of the bear-market of 2022/2023 are nonetheless distant, however not too far, and that is probably because of the competitors from memecoins.
Memecoins are inclined to make a splash solely as soon as and to face sturdy competitors from new memecoins in subsequent cycles.
Moreover, ranging from February of this yr, the whole memecoin market has been experiencing some difficulties, though from this standpoint it would solely be a brief setback.
All this additionally explains very effectively why the worth of Solana has not rebounded like that of Bitcoin.
SUI
A very completely different dialogue is the one regarding SUI.
The blockchain of Sui just isn’t notably used for memecoins. It’s as an alternative used primarily within the DeFi sector.
It is a crypto venture launched simply a few years in the past, and it has already reached a TVL DeFi exceeding 1.7 billion {dollars}.
Though such a TVL has led Sui to surpass far more historic initiatives, similar to Avalanche or Polygon, currently a doubtlessly sturdy new competitor has emerged, Hyperliquid, which has already surpassed it in DeFi TVL, albeit barely.
The value of the cryptocurrency SUI, nonetheless, doesn’t appear to have been considerably affected by this new potential competitors.
In truth, after reaching the brand new all-time excessive in January of this yr, above $5.3, within the following months it skilled a robust correction all the way down to $2, which, nonetheless, by no means introduced it even near the $0.8 of the top of October 2024.
Moreover, ranging from the top of April, it marked an attention-grabbing rebound, although it ended shortly earlier than mid-Could. Now the worth is $2.8, which is at a degree increased than any worth it had traditionally earlier than the Trump commerce.