Wall Street can change its mood as quickly as a summer song, but one rule still holds true: when money from financial institutions floods into the market, they often seek real utility, not coins based on 'meme'. This is an important distinction and can create very different outcomes for the two familiar names, Solana and Dogecoin, in the coming months.

Currently, Solana is not only welcoming capital flows from institutional investors but also has at least three major drivers pushing its value further — outperforming Dogecoin, which is increasingly losing appeal from both the community and the market.

1. Solana Attracts Strong Institutional Capital Flows

The U.S. Securities and Exchange Commission (SEC) recently requested organizations to resubmit their Solana ETF (Exchange-Traded Fund) registration filings before the end of July to expedite the approval process. This means that Solana-linked ETFs could be approved right before Halloween — earlier than initially expected.

Capital flows began to pour in even before official news was confirmed. In the first week of July, ETP trading products related to Solana attracted $78 million — a significant amount. This is real capital, representing demand from institutional investors wanting to access Solana, and it often leads price trends before individual investors even realize.

Meanwhile, while Dogecoin also has news about an upcoming ETF being considered, the appeal from professional investors is very low. Dogecoin lacks almost all the factors to be considered a serious asset: no profit-generating mechanism, no token burn (burning coins to reduce supply), and no clear technical development roadmap. Even if the Dogecoin ETF is approved, institutional investors will find it difficult to inject large-scale capital into a coin that is 'just for fun'.

2. Tokenized Assets Are Landing on Solana

Not just waiting for an ETF, Solana is gradually becoming the practical infrastructure for bringing traditional financial assets onto the blockchain.

In just the last two weeks, the tokenized stock market on the Solana chain has increased from $15 million to $48 million, with many new stock codes being listed in token form. This is an important leap. Each new stock not only generates transaction fee revenue but also helps increase the ecosystem's credibility in the eyes of asset management institutions.

Why are just a few dozen stocks so important? Because large financial institutions view these tokenization platforms as a 'pipeline' for transferring assets. When they select a platform with good performance (in this case, Solana), they will gradually shift all assets to that platform to optimize operations. Once the capital flow has started, it becomes very difficult to reverse unless another superior technology emerges.

Dogecoin cannot compete in this arena. Its protocol does not support smart contracts, let alone the ability to perform custody control or KYC — which are mandatory requirements in the world of tokenized financial assets.

3. The Technology and Human Resource Gap Is Increasing

Technically, Solana has the capacity to process up to 65,000 transactions per second (TPS) under ideal conditions, and more than 5,000 TPS in reality — with transaction fees only a fraction of a cent. Such high performance makes decentralized applications (dApps) on Solana smooth and almost instantaneous, even when many users rush to trade meme coins.

But performance will become meaningless without a development team — and this continues to be Solana's strength. For three consecutive months, Solana has led in developer activity among all layer-1 blockchains. This is evidence of a sustainable building community, continuously updating features, and creating an ever-increasing competitive advantage.

Meanwhile, Dogecoin has almost no development activity. This is partly due to the 'no one controls' characteristic that used to be an attraction but is now a barrier. Without smart contracts, no ability to scale features, Dogecoin is currently just a 'tip jar' with no place for long-term capital to reside. And this limits its sustainable price increase potential, even if supported by an ETF.

Conclusion: Solana Has Many Advantages to Outperform Dogecoin

If the Solana ETF is approved on time, coupled with the wave of traditional financial assets continuing to land on the blockchain, then trading volumes, revenue from fees, and the 'investment story' surrounding Solana will become increasingly attractive.

Meanwhile, Dogecoin — while it may be pumped in the short term — is unlikely to maintain its price increase momentum without a real ecosystem and utility.

With what is happening, Solana is almost certain to outperform Dogecoin, both in the short term and long term. This is a shift from 'meme' to 'infrastructure', from emotion to practicality — and large institutions are making a clear choice.