The long to short ratio for Solana’s SOL has shifted to reflect bearish sentiment as memecoin scandals escalate. Reports indicate a 4-to-1 ratio of shorts to longs on platforms like Binance, reflecting trader pessimism.

Key memecoins such as Bonk and Dogwifhat that initially boosted Solana’s ecosystem are now contributing to significant losses, damaging overall market confidence in SOL.