Is SOL at 180 now a suitable price for long-term holding?
As someone who has been playing with memes on the SOL chain for quite some time, let me share my thoughts.
The biggest problem with SOL right now is that there are strong sell orders on various decentralized exchanges.
Moreover, the smart money in the meme market is continuously selling off.
It's important to note that the more lively the meme market on the SOL chain becomes, the worse it may be for the price of SOL itself, creating a vicious cycle.
This is actually unhealthy.
It should be understood that many meme project development teams hold a large amount of SOL themselves, and if they no longer have confidence and choose to leave this ecosystem, the selling pressure will only increase.
If SOL wants to stabilize or even rise, it will depend on whether the Solana Foundation can find ways to attract some major foundations or institutions to absorb these sell orders, allowing them to accumulate SOL, and even encourage them to use locked SOL as a means of investment.
If someone is willing to lock their holdings and not easily sell, there will be fewer sell orders in the market, but if the demand to buy remains, the price will naturally be easier to increase.
If you are considering holding SOL for the long term, you might want to pay more attention to the trends mentioned above recently.