The post Trump’s Meme Coin Surges Above $73, Potentially Challenging Dogecoin Amid Solana’s Rally appeared on BitcoinEthereumNews.com.

Donald Trump’s official meme coin, TRUMP, saw a dramatic surge above $73 this weekend, signaling a new wave of interest in meme-related cryptocurrencies. The spike in TRUMP’s price coincided with the announcement of its listings on major exchanges, enhancing investor confidence and drawing attention away from other meme coins like Dogecoin. “TRUMP is positioning itself as a serious contender in the meme coin market,” said a COINOTAG analyst, highlighting its rapid rise and substantial market cap potential. TRUMP coin surges above $73 amid exchange listings, overshadowing Dogecoin’s performance and boosting Solana’s value significantly. TRUMP Coin’s Meteoric Rise Amid Exchange Listings In a whirlwind of activity, Donald Trump’s meme coin, TRUMP, has become a focal point in the cryptocurrency market. The coin’s monumental increase to a peak of $73.43 early Sunday underscores a significant investor interest in meme currencies, particularly underpinned by its recent listings on major centralized exchanges like Binance and OKX. As per data from CoinGecko, although it retraced to approximately $59, TRUMP’s rise from under $25 less than 24 hours earlier showcases the volatile nature and rapid growth potential in this segment of the crypto landscape. The Competitive Landscape of Meme Coins Following its explosive debut, TRUMP is now positioned as the third-largest meme coin by market cap, behind Shiba Inu (SHIB) and Dogecoin (DOGE). Currently, TRUMP boasts a market cap nearing $12 billion, whilst DOGE’s market cap remains dominant at around $57 billion. Despite the substantial difference, TRUMP’s fully diluted value (FDV) suggests that it could eventually challenge DOGE’s supremacy, especially if current trends in trading volume and market support continue. Analysts are closely monitoring these developments, as TRUMP could significantly reshape the meme coin arena. Impact on Associated Cryptocurrencies: The Case of Solana Notably, Solana has also experienced a positive correlation with TRUMP’s launch. Coin’s native…

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Filed under: News - @ January 19, 2025 3:27 pm