That demonstrates that polygon needs to do one more advancement to carry greater utility to the its token to have the option to rival different tokens like BSC and Solana. Matic can't increment forcefully, then, at that point, in a rectification condition it will continuously sink to the base value and will hard to return quickly any time soon.
Matic polygon can always advance in terms of price though I don't know if it will reach a higher level or not but for the coin to add another utility? I don't think if it's possible because the only reason why they created this coin is to have a quick alternative to ethereum and the coin is already successful for this matter.
If we want more utility we can always find it on other coins. Despite of its relatively small price, I can say that matic is a really strong coin and it can compete with bsc and solana. The market is in a bearish mode so it's normal for a top coin like matic to dump hard but once the market recovers, matic can also recover easily.