<ul data-eligibleForWebStory="true"><li>Solana price gained significantly in Q2, rising from $96 to $187 marking a 93.5% increase over 46 days.</li><li>By the end of May, Solana's gains dropped over 20% retesting a key level at $144 in mid-June.</li><li>Pump.fun, a Solana-based launchpad, sold 4.1 million SOL, causing concern among investors and impacting confidence.</li><li>Pump.fun faced criticism for potential involvement in pump-and-dump schemes and quick token launches.</li><li>Major accounts related to Pump.fun were suspended, leading to speculation within the crypto community.</li><li>Pump.fun sold its SOL holdings since May 19, 2024, dumping around 4.1 million SOL estimated at $741 million.</li><li>The ongoing sell-off by Pump.fun has contributed to pulling down the Solana price and affecting investor confidence.</li><li>Despite institutional interest in Solana, events like Pump.fun's sell-off could lead to a significant market cap downturn.</li><li>Recent price fluctuations saw Solana dropping 11% during the week, trading at around $150.42.</li><li>If demand weakens and profit-taking continues, Solana's price risks dropping further, possibly towards $120.</li></ul>

Could Solana Price Hit $120 After ‘Pump.Fun’ 4.1 M SOL Sell-Off?

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