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SOL, the native cryptocurrency of the Solana blockchain is now ranked the Seventh-Largest Cryptocurrency by total market cap according to data from CoinGecko, overtaking the meme coin Dogecoin (DOGE). SOL has being setting new all time highs with over 300% in the last 30 days, after passing the $100 mark for the first time on Monday. Solana is now viewed as a major competitor to the current leading smart contract platform, Ethereum

 

[Lobardi]

The coin had many hack and network denial instances that made the coin cracked to be honest in my opinion and once it gets the desired back it will fly high and fast to be honest actually in my opinion .

 

[ELSA-ELI]

Yep there is always heavy marketing if you are to see more of whales buying in the coin, people in the development also need to enhance more features that will make the coin attractive. Solona did that and they got their reward of moving on the 7th position on the chat. Dogecoin teakky need to work extremely hard because it is a future coin that has great potential and more environmentally friendly.

 

[Ben Kempton]

Yeah I think Solana coin is definitely going to move very high soon and even surpass eth , since the developers are really doing a great job and it's helping the price push forward more , with it's cheap price it have more tendency to surpass

I guess that right now, Solana is still outperforming Dogecoin on the market cap list. This suggests that many investors have been investing in Solana and it is still considered a much greater opportunity and investment tool. Solana's price has still remained much range-bound till now as we could see in the chart below.

 

[Wisdom01]

I guess that right now, Solana is still outperforming Dogecoin on the market cap list. This suggests that many investors have been investing in Solana and it is still considered a much greater opportunity and investment tool. Solana's price has still remained much range-bound till now as we could see in the chart below.

there was a time it ranked the fourth largest cryptocurrency to invest in. i would say the developers are introducing different criteria to earn through the coin ,most especially the staking options ,all of these are actually bigger option that are been created for earning,and they add in more development

 

[fiery phoenix]

Solana has great potential,high volatility being one its best characteristics.Although on the other hand,Solana has had problems with its blockchain being halted several times for hours in what are called network outages caused by high network usage.This is going to be its big disadvantage in the future and it needs to be fixed soon

 

[Ben Kempton]

there was a time it ranked the fourth largest cryptocurrency to invest in. i would say the developers are introducing different criteria to earn through the coin ,most especially the staking options ,all of these are actually bigger option that are been created for earning,and they add in more development

I think that one of the main reasons why Solana fell was due to some sort of problem with the Blockchain network that casued much problems for investors and traders at that time. There are some other factors as well that led to decline of Solana. Solana has been suffering from many such network interruptions in the past as well.

 

[Wisdom01]

I think that one of the main reasons why Solana fell was due to some sort of problem with the Blockchain network that casued much problems for investors and traders at that time. There are some other factors as well that led to decline of Solana. Solana has been suffering from many such network interruptions in the past as well.

although it's true that it was facing network interruption , but I think probably then there was a lot of burden on the network ,since during that period it actually emerged as the most staked coin , showing the capabilities and potential it actually thus have in it tho

 

[fiery phoenix]

Solana had their sixth network outage recorded in June 2022 and it lasted about 5 hours.In a network outage,no new blocks will be produced,so nothing will be happening,its a complete freeze,validators have nothing they can do about it.I think these outages will limit the growth of the coin,and the price will fall from time to time due to these outages

 

[Ben Kempton]

although it's true that it was facing network interruption , but I think probably then there was a lot of burden on the network ,since during that period it actually emerged as the most staked coin , showing the capabilities and potential it actually thus have in it tho

I guess that Solana might improve by the passage of time. A cryptocurrency firm named as "Jump Crypto" is planning to make the blockchain structure of Solanan much better. I think that this could definitely offer some new kind of breakthrough for Solana coin and its network. i just hope that they do it successfully.

 

[Wisdom01]

I guess that Solana might improve by the passage of time. A cryptocurrency firm named as "Jump Crypto" is planning to make the blockchain structure of Solanan much better. I think that this could definitely offer some new kind of breakthrough for Solana coin and its network. i just hope that they do it successfully.

I really hope they make it better and improve the network ,Solana needs that improvement , so many contribution and adjustment needs to be done to see the growth of the coin , although things aren't looking good ,I also wish things could go better for the coin

 

[fiery phoenix]

The reason why Solana will beat Dogecoin long term is because Solana was created for a purpose,to solve problems,but Dogecoin has no purpose it was created as a joke.Another factor is that the circulating supply of DOGE is higher than that of Solana,meaning long term demand will be created more on the Solana blockchain than the Dogecoin because Dogecoin is infinitely available with an everlasting supply

 

[Potuse]

This news is not a surprise to me because solana is better than the joke dogecoin . Solana has some of the best blockchain technology in the cryptourrency market, and the project has a lot of potentials. The blockchain also supported the NFT which is one of the fastest growing segment of the cryptocurrency space.

 

[Horia_10]

Solana definitely have the potentials to lead the market together with coins like cardano which are the ones that are actually developing things and most of other developers are just focused on making assets while not providing any utility to the holders of a coin as well .

 

[fiery phoenix]

As they say,market cap growth is really dependent on many two important ones which are popularity of a coin and invested and traded volumes of capital,this meaning Solana is overtaking Dogecoin in these two areas.Solana runs a deflationary monetary system of burning its tokens that it charges as transaction fees there by decreasing the chances of inflation of the coin,but Doge has an everlasting supply with no plan of burning any coins in circulation put in place

 

[Horia_10]

Doge definitely has no utility other than being a meme and used for internet payments now , mostly people who want to avoid the falloffs use the usdt because it is stable and good for making big payments so that is why if something is right and good we must support it actually to our full indeed at all point .

 

[Ben Kempton]

The reason why Solana will beat Dogecoin long term is because Solana was created for a purpose,to solve problems,but Dogecoin has no purpose it was created as a joke.Another factor is that the circulating supply of DOGE is higher than that of Solana,meaning long term demand will be created more on the Solana blockchain than the Dogecoin because Dogecoin is infinitely available with an everlasting supply

While it is true that Dogecoin is a meme coin, but I do not think that Dogecoin was not created without any purpose. It might be created with that intent, but now we can see that Dogecoin is being used as a payment method on many websites. Moreover, Elon Musk has also viewed Dogecoin more favourably.