Solana is a new promising altcoin that surpassed dogecoin to be ranked up to seventh place on CMC. And based on its price last August 15 2021 it is only 44$ and now its current price is 157$ based on that super Sonic price movement from 44$ to 157$ for just one months, I think Solana is good for short term investment, what would be your insights about this guys. Good for long term or short term investment?
Before investing in a relatively unknown project like Solana, we need to get more information about their long term development plans. And just yesterday Solana was hit by some major technical problems. At some point, they ran into problems validating transactions, which the development team deemed "out of resources". Just because Solana is technologically superior, it doesn't automatically mean that it will be able to replace established altcoins like Cardano and Ethereum. Solana is not something that is pumped like a doge driven by Elonmusk, where when the hype from Doge dissipates the price will drop, Solana provides innovative and fresh technology that attracts investors for the long term, even though Solana is currently on the decline but it's a reasonable correction.