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TRUMPFuelled – Cryptocurrencypanther https://cryptocurrencypanther.com Latest Crypto News Mon, 20 Jan 2025 11:23:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://cryptocurrencypanther.com/wp-content/uploads/2021/07/cropped-Cryptocurrency-e1626714913653-32x32.png TRUMPFuelled – Cryptocurrencypanther https://cryptocurrencypanther.com 32 32 Solana Set New All-Time High as TRUMP-Fuelled Rally Spurred Price Growth https://cryptocurrencypanther.com/2025/01/20/solana-set-new-all-time-high-as-trump-fuelled-rally-spurred-price-growth/ https://cryptocurrencypanther.com/2025/01/20/solana-set-new-all-time-high-as-trump-fuelled-rally-spurred-price-growth/#respond Mon, 20 Jan 2025 11:23:49 +0000 https://cryptocurrencypanther.com/2025/01/20/solana-set-new-all-time-high-as-trump-fuelled-rally-spurred-price-growth/

  • Solana set a new all-time high of $295 as euphoria around the TRUMP memecoin spurs bullish interest.
  • The network token rose over 20% on Saturday, Jan. 18 as on-chain trading volume reached $27Bn.

Solana’s network token, SOL, rallied to a new all-time high of around $295 following a spike in on-chain trading activity, which succeeded the announcement of an official TRUMP token late Friday, Jan. 17.

Around 9:44 PM EST, President-elect, Donald Trump, tweeted the new memecoin from his official X account.

While initial buyers were cautious, thinking the announcement to be a result of hackers, crypto sleuths soon discovered the launch to be legitimate. Funds began to flow into the token 1 – 3 hours post-launch.

The memecoin’s legitimacy, fuelled by Trump’s popularity in the crypto space and his political position, drew traders who transacted a total volume of around $27Bn over the 24 hours after the token’s launch.

Solana price action

Solana rallied from $219.53 on Saturday morning to a high of around $290 on Sunday morning. However, the price did not close above the previous all-time high on the daily time frame.

Price fell slightly from the new all-time high Sunday afternoon as open interest levels on Binance declined.

SOL’s price has begun to recover and trades at $264.32 as of publishing.

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