It's just overall market downtrend right now, when times comes $40 will be nothing for solana, even couple hundred will be an easy feat, not like it hasn't done that before
that's true. recently solana doing good and still keep growing. If we check the chart, solana increased 25% within a week which is a lot for solana while it was silence for months. even this growth percentage is more than others potential altcoins. If solana can keep the speed continue, then we could hope $40 even more will be crossed before the year end. But I'll not suggest to buy only based on such speculation theory
It will be soaring even higher once FTX will able to redistribute all of money to the creditors. The company is stil in the process of liquidating their funds to pay the creditors. I hope that everyrthing goes well as this will be also helping solana so much in pumping its price.
I have heard that if FTX is still in the process to resurrected its company again. I do support this decision and solana is a worthy coin to bet for long term.
As long as FTX plan will be going so well and i think that 40 bucks will be easily reached by this coin.