The post Can SOL Price Touch $300? appeared on BitcoinEthereumNews.com.

The crypto president has signed several executive orders that support crypto, which has helped the altcoin market recover strongly. As a result, the price of SOL has bounced from the important $240 support level, and key on-chain metrics have improved. There’s also a notable increase in transactions on the SOL network, nearing a monthly high, which is pushing the SOL price toward reaching $300 by the end of this month. Trump Memecoin Creates New ATH for Solana’s Stablecoin Supply The release of the Trump meme coin has led to a significant recovery in SOL’s price from its recent low. The return of crypto-supporter Donald Trump and several of his executive orders have pushed Solana’s stablecoin supply, transaction count, and total value locked (TVL) to record levels. Also read: Solana Price Prediction Today (24th January 2025) According to data from The Block, the number of transactions on the Solana network is close to reaching its monthly peak of 291.6 million. Currently, the count stands at 289.75 million, indicating a spike in activity on the SOL network. Over the past week, the amount of stablecoin in Solana’s system has exponentially increased, nearing $11 billion for the first time and setting a new record high. A significant reason for this surge seems to be the popularity of Trump family-themed memes coins, specifically the Official Trump (TRUMP) and Official Melania Meme (MELANIA) coins. These coins have brought in billions of dollars and attracted hundreds of thousands of new users to Solana recently. As a result, the number of new Solana wallet addresses created each day reached nearly 5.2 million. Additionally, the active address count on the SOL network is now at 5.3 million. Data from DefiLlama shows that the excitement about memecoins in the Solana ecosystem has also caused a significant increase in its…

---

Filed under: News - @ January 24, 2025 10:16 pm