Solana's price has dropped to $80.99 as of May 28, 2026, following significant selling pressure from whale wallets, institutional exits, and the reactivation of Pump.fun. The cryptocurrency opened the week at $86.4927, briefly reaching $88 on May 22 before a steady decline ensued. The selling was driven by Pump.fun resuming SOL distributions after a nine-month hiatus, depositing 174,408 SOL worth approximately $14.76 million to Kraken, and selling 117,877 SOL at an average price of $84.52. Additionally, Goldman Sachs liquidated its spot Solana ETF position in Q1 2026, further reducing institutional support. A long-term holder also sold over $137 million in SOL, increasing market supply. The technical indicators show SOL trading below key moving averages, with the 50-day SMA at $85.95 and the 20-day SMA at $88.52 now acting as resistance. The $80 level is critical, as a daily close below it could lead to further declines toward $71.