Trump token launch driving SOL to $300?
The post Trump token launch driving SOL to $300? appeared on BitcoinEthereumNews.com.
Solana price hit a new all time high of $275 on Sunday January 19, after Donald Trump launch of the $TRUMP token on the network sparked 25% gains within 24 hours. On-chain data shows the SOL blockchain network attracting an unusually high number of new entrants as bulls target further price discovery. Trump Token Launch Drives Solana price to All Time High Solana (SOL) has emerged as the standout performer in the cryptocurrency market ahead of Donald Trump’s inauguration. While Solana had maintained a bullish outlook throughout the past week, the rally significantly accelerated following the announcement of the $TRUMP meme token, hosted on the Solana network. Investor enthusiasm for the $TRUMP token has translated into a surge in demand for SOL, as it is the prerequisite native coin for the Solana ecosystem. The $TRUMP token’s rapid rise—gaining over 3000% within 24 hours—has directly bolstered Solana’s bullish price momentum. As of Sunday, January 19, Solana reached a new global all-time high of $275, with its price consolidating above $270 at press time. This remarkable SOL price rally marks a 51% gain over the last six days, extending Solana’s winning streak and solidifying its status as the best-performing cryptocurrency among the top 20 ranked digital assets in 2025. Solana Price Action (SOLUSD) Having added over market capitalization soaring by more than $75 billion in the past week, this establishes SOL as the most in-demand digital asset in the build up to Trump’s inauguration. If Trump’s administration enacts crypto-friendly policies, as many investors speculate, Solana could see continued long-term gains, potentially strengthening its market dominance. New users execute 5.3 million SOL transactions after $TRUMP token launch Solana’s 25% rally on Saturday was largely driven by speculative demand from traders anticipating short-term gains from Trump’s decision to launch his $TRUMP token on the…
Filed under: News - @ January 19, 2025 5:17 pm