Solana has seen a significant surge in its price, marking a new all-time high, largely due to its association with Donald Trump’s official meme coin. Reports indicate that the price of Solana (SOL) reached approximately $269, with platforms like CoinMarketCap and Coinbase reflecting this milestone.
As of the latest data, SOL registered a noteworthy rise of 14%, sitting at around $250. It stands out as the sole gainer among the top ten cryptocurrencies, with Sui (SUI) as the only other coin showing an increase.
Different pricing sources report varied high points for Solana. While CoinGecko listed a peak velocity above $262, approaching its all-time record of $263.21 from November, the general trend is undeniably upward. This upsurge is attributed to Solana’s status as a leading platform for meme coins over the past year, propelled by demand for Trump’s token.
The trading volume of the TRUMP coin has nearly doubled that of Dogecoin, historically the most valued meme coin by market cap. As of the period noted, approximately $12.4 billion worth of TRUMP had traded hands, in contrast to Dogecoin’s trading volume which was just below $6.5 billion. Interestingly, TRUMP was only available for a fraction of the trading day.
Currently, the TRUMP token trades for over $40, boasting a market cap of $7 billion.
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