Solana (SOL) made an attempt to hit the $100 mark on May 12, climbing to the $98 price level. However, the cryptocurrency faced a rejection, and has since dipped to the $90 mark.According to CoinGecko data, SOL’s price has dipped by 4.5% in the last 24 hours and by 50.4% since mid May 2025. Despite the correction, SOL has maintained some gains on the other time frames, rallying by 1.9% in the weekly, 9.6% in the 14-day charts, and 5.8% over the previous month. Let’s discuss why Solana’s (SOL) price could be facing a dip, and if it may rebound soon.
Solana’s (SOL) ascent to the $98 price level came amid Bitcoin’s (BTC) rise to the $82,000 mark. However, BTC has since faced a price correction, falling to the $78,000 level earlier today, May 14, 2026. BTC’s correction could be a factor behind Solana’s (SOL) price dip.
One reason behind Solana’s (SOL) correction could be hotter than anticipated producer price index (PPI) figures. The figures suggest that inflation is still not under control, and may lead to the Federal Reserve delaying an interest rate cut.
Bitcoin (BTC) and the larger market correction could also be fueled by questions around the CLARITY Act. The pro-crypto legislation is up for vote today, and two points in the bill are still being contested. Solana (SOL) and other cryptocurrencies may have taken a hit due to the lack of an agreement. However, Senator Lummis anticipates the differences to be sorted out after the bill is passed.
Also Read:How Solana Is Eating Away Ethereum’s Market
Another factor for the dip could be the rejection of Iran’s ceasefire demands by the US. The development may have lead to increased investor worry, especially around risky assets such as Solana (SOL) and other cryptocurrencies.
Source: Watcher Guru
