The current biggest problem with $SOL is actually the heavy selling pressure. There are continuously people dumping on the DEX, and the smart money in the meme sector is also continuously selling off. What's more troubling is that the activity of memes on the SOL chain has instead become a reverse drag, forming a sort of 'encirclement' on the price. Many project parties are themselves major holders of SOL, and if they feel that the meme market has no future and choose to retreat, the selling pressure will only become more frightening.

The ideal situation would be for the Solana Foundation to attract some institutions to take over, holding SOL through locked positions, which would reduce circulating selling pressure and create new demand, making it easier for the price to rise.

If you really intend to hold SOL for the long term, you should pay more attention to these developments and see if the foundation and major holders take any actions.