Solana (SOL) is down 8.8% in the past 24 hours, hitting $169.01 following a series of controversies relating to meme coins based on its blockchain, including LIBRA and Harry Bolz (HARRYBOLZ).

This represents SOL’s lowest price since mid-December, per data from CoinGecko. The cryptocurrency is now down 16.5% week-on-week and 39.1% since this time last month.

LIBRA, a Solana-based meme coin, lost the vast majority of its value earlier this week after it was endorsed and then disowned by Argentine President Javier Milei, shedding over $4.4 billion in market capitalization just hours after launch.