$SOL

To all the crypto enthusiasts holding SOL, I’m here to give you confidence!!
In the past month, SOL has been extremely weak, with no strong rebounds since it dropped from its peak. The trading volume is unstable, and the 4-hour chart's low has fallen from 203 to 175, getting lower and lower, showing a clear trend of oscillating decline, which is a very dangerous signal! Let's first understand the main reasons for SOL's decline.
1. The unexpected surge of XRP, which, similar to the speculation around the next ETF coin, has heavily suppressed SOL's trading volume, taking away a significant amount of liquidity.
2. The rise of the new public chain star SUI, which has gained momentum rapidly, following SOL, the ETH killer, now we have the SOL killer. It has taken away a lot of the hype, and even resources.
3. The initial breakthrough of historical highs, leading to a significant reduction in retail investors' expectations, and the massive amounts of SOL held by early buyers have created a considerable selling pressure in the market.
However, I still remain optimistic about SOL, expecting it to break through a new high of 290 soon, and even rise to 500, 1000 in the future!!! Firstly, XRP's large market cap coin does not possess MEME attributes, and without good applications and an ecosystem, it cannot go far. SUI has indeed been very aggressive lately, but I still don’t understand how you dare to pump a coin with less than 30% circulation? SOL's public chain is powerful, with fast transactions, quick deployments, and low GAS fees, which provide convenience. Even after ETH's upgrade, which increased speed and reduced transaction fees by 90%, SOL is still a little brother in comparison! Additionally, the project's profitability gives investors sufficient confidence, with Solana's ecosystem revenue and DApps revenue reaching 92 million USD + 365 million USD in November, growing more than tenfold, showing strong profit potential. The SOL ETF was rejected this month, but this was all expected; Trump hasn’t taken office yet, and the macro environment isn’t in place. Moreover, the BTC ETF was applied for in 2013 and approved in 2023, being rejected for 10 years, which is a normal trajectory. Lastly, the meme coin explosion still has at least 1-2 more times to go, and during this time, SOL will go even crazier!!!
When you see that everyone is pessimistic, and it starts to affect your trading decisions, just hold on a little longer, as there often come unexpected surprises! Going against human nature has always been the main theme in the crypto world. $SOL



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