Can Solana reach $500?

Could you elaborate on the potential for Solana's cryptocurrency to reach a value of $500? Given the current market conditions, what factors would need to align for such a significant increase? Are there any technical advancements or partnerships in the pipeline that could drive this growth? What about the competition in the cryptocurrency space? How does Solana stand out and what are the chances of it maintaining its momentum to hit this milestone? Additionally, what are the risks involved and how could investors mitigate them? Your insights would be greatly appreciated.