Solana down 15% in past seven days amid claims of alleged SOL investigation

Solana holders and crypto analysts on X slammed influencer Crypto Bitlord behind the X handle @crypto_bitlord7 for his hot take on Solana and an alleged investigation. 

The analyst said in a recent tweet that the alleged investigation has been brewing for “some weeks now,” and the crypto community on X heavily critiqued the influencer for his claim. Some analysts have labeled the claim as a rumour and called out Crypto Bitlord. 

Alleged Solana investigation rumor or fact? 

Crypto Bitlord took to X to share news of an alleged investigation into Solana that has been brewing for weeks and said, “We are hearing rumors that $SOL is under investigation.” 

The tweet on X has invited the ire of several crypto analysts and Solana proponents on the social media platform. 

Solana recently extended losses and noted a 15% dip in price in the past seven days. Crypto Bitlord’s claims combined with the price action of SOL gave the issue weight among market participants. 

Crypto analyst Evanss6, behind the handle @Evan_ss6, believes the community is witnessing the “death of Solana” and shared a bearish stance on the asset.

Luke @toroscrypto agrees with Crypto Bitlord and supports his take with a thesis from a few weeks ago predicting that “Solana could end up as this cycle’s LUNA.” 

Do Kwon’s Terraform Labs sister tokens LUNA and UST collapsed in the previous cycle, resulting in a slew of bankruptcies among crypto lenders. 

Analyst Ricki.sol of MonkeDAO, behind the X handle @rickicryptostix, calls the Solana investigation “nonsense” and dismisses Crypto Bitlord’s claim. 

Solana Labs did not immediately respond to FXStreet's request for comment.