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Summary: The author argues that Solana (SOL) has been under heavy pressure this cycle and blames Pump.fun as one of the key contributors. Key points: SOL is down 75% from its all-time high. SOL has fallen 57% over the past year. The token has reportedly recorded 10 consecutive red monthly candles, reflecting prolonged weakness. Pump.fun has reportedly sold a cumulative 4,823,325 SOL, worth approximately $807 million, at an average sale price of $167.40. The claim is that these continuous sales have added significant selling pressure, hurting SOL's price and contributing to losses for retail investors. Balanced perspective: Large, repeated token sales can certainly create short-term selling pressure and negatively impact market sentiment. However, it's difficult to conclude that Pump.fun alone is responsible for SOL's decline. Other factors—such as broader crypto market weakness, macroeconomic conditions, profit-taking, and reduced speculative activity—also play important roles. If Pump.fun's sales are simply converting platform fee revenue into cash, that is different from the project deliberately trying to push SOL's price lower. Bottom line: Pump.fun's large SOL sales may have amplified downward pressure, but SOL's performance is likely the result of multiple factors rather than a single cause.