Solana's token, SOL, faced an 8% downturn after touching $147 on March 25, with traders questioning whether its bullish momentum has ended following the memecoin bubble burst. Analysts suggest that future growth may hinge on the approval of a Solana spot ETF and the rise of tokenized real-world assets on the Solana network, while others highlight its mobile user experience as a potential advantage. However, declining on-chain activity and reduced DApp revenues raise concerns about SOL's capacity to reclaim levels above $150, with significant competition from other blockchain platforms like Ethereum and BNB Chain. Solana's DApp revenues fell to $12 million in the week prior to March 24, a notable drop from two weeks earlier. With the U.S. government's decision not to acquire altcoins for its strategic reserve contributing to investor disappointment, the outlook for SOL remains uncertain despite its potential benefits from a favorable regulatory environment and advancements in decentralized applications.

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