One of the reasons why $SOL might not easily cross $500 is because of platforms like Pump.fun. They keep sucking and extracting Solana from people, all in the name of creating meme coins.

After generating $SOL worth millions of dollars, they send it to centralized exchanges and dump it.

They will keep doing this for a very long time, and we also have more platforms getting free $SOL from transactional fees on their platforms, and they will keep selling and dumping it.

This right here is one of the reasons why Solana will not easily break $500.

So, a 5x from this point is almost impossible.