• TRUMP meme coin euphoria sparks bullish curiosity as Solana hits new all-time excessive of $295
• The community token rose over 20% on Saturday, January 18th, as on-chain transaction quantity reached $27 billion.

Solana’s community token, SOL, rose to an all-time excessive of round $295 following a surge in on-chain buying and selling exercise following the announcement of the official TRUMP token late Friday, January seventeenth.

At roughly 9:44 p.m. ET, President-elect Donald Trump tweeted a brand new meme coin from his official X account.

My new official Trump meme is right here! It is time to rejoice every thing we stand for: victory! Be part of my particular Trump group. Please get it $Trump now. Go to https://t.co/GX3ZxT5xyq — Take pleasure in! pic.twitter.com/flIKYyfBrC

— Donald J. Trump (@realDonaldTrump) January 18, 2025

Whereas preliminary patrons have been cautious of the announcement, believing it to be the work of hackers, crypto sleuths shortly found that the announcement was authentic. Cash began flowing into the token inside 1-3 hours of launch.

The memecoin’s legitimacy, pushed by Trump’s reputation and political stance within the cryptocurrency house, attracted merchants, with a complete of round $27 billion in transactions within the token’s first 24 hours.

Solana value motion

Solana rose from $219.53 on Saturday morning to a excessive of about $290 on Sunday morning. Nonetheless, the value didn’t shut above the all-time excessive on the each day time-frame.

The value has fallen barely from Sunday afternoon’s excessive as Binance’s open curiosity degree has declined.

The value of SOL has began to get well and is buying and selling at $264.32 on the time of publishing.