Search for Solana and crypto rise amid TRUMP memecoin launch
The launch of the TRUMP (CRYPTO:TRUMP) memecoin has led to a significant increase in search volumes for "buy crypto" and "buy Solana," reaching peak interest levels according to Google Trends.
This surge reflects heightened public curiosity, particularly among non-crypto enthusiasts drawn in by the buzz surrounding the President-elect's Solana-based token.
Both search terms hit a score of 100, indicating maximum interest, alongside similar spikes for "Coinbase" and "crypto app."
The TRUMP memecoin's introduction has generated mixed reactions, initially met with scepticism from traders questioning its legitimacy due to numerous knock-off tokens.
However, following confirmation from Trump's team regarding the coin's authenticity, its price skyrocketed, achieving a fully diluted market value of approximately $67 billion.
The memecoin's rapid ascent also positively impacted Solana’s (CRYPTO:SOL) native asset, SOL, which reached new all-time highs of $270.
Market analyst Arthur Hayes predicts that the TRUMP token could reach a fully diluted value of $100 billion by the time of Trump’s inauguration on January 20, 2025.
Hayes noted that such memecoins could potentially foster political accountability within blockchain ecosystems.
Despite the initial excitement, concerns linger regarding the implications of such speculative assets on investors.
Critics have labeled the memecoin as predatory, suggesting it exploits political themes for profit while warning that many investors may face losses as hype fades.
As the cryptocurrency landscape evolves with this new development, analysts are closely monitoring how these trends will influence regulatory discussions under the incoming administration.
In light of Trump's previous hesitance towards cryptocurrencies, his recent embrace signals a potential shift in policy direction favoring the digital asset space.
At the time of reporting, the Solana (SOL) price was $239.09.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More








