Donald Trump’s new meme coin — Official Trump ($TRUMP) — is being seen as a stamp of approval on Solana.
The truth that the POTUS — the chief of the free world — determined to launch a meme coin on Solana hours earlier than his inauguration is being seen as extraordinarily bullish for SOL.
Whereas $TRUMP reached a peak undiluted valuation of $15 billion, buying and selling as excessive as $75, the Solana worth hit a brand new all-time excessive on Saturday and has entered worth discovery since.
A brand new meme coin Solaxy (SOLX), can also be in excessive demand, having already raised almost $12 million in its presale. With the Solana ecosystem within the highlight, it’s no shock that distinguished buyers are viewing SOLX — the primary distinguished Solana Layer-2 — as the subsequent 100x crypto.
The Trump Coin Has Topped Solana As The Finest Altcoin To Purchase In 2025
As beforehand acknowledged, Donald Trump launching a meme coin on Solana is maybe the largest stamp of approval the blockchain has obtained.
Furthermore, the success of $TRUMP highlights one in all Solana’s key promoting factors — the low transaction price permits buyers, together with retailers, to make giant investments and maximize their returns.
It’s not with none cause that the Trump coin is up by greater than 32,000% in 2 days, outperforming S&P 500’s returns since 1971.
To place this into perspective, this places $TRUMP up 28,000% since launch.
This outpaces the S&P 500’s return since 1971, or 54 YEARS of S&P 500 returns.
Over this era, the S&P 500 has averaged +11% per yr.
Not even Bitcoin has seen the speedy progress that we’re seeing now. pic.twitter.com/bLzDK4jmN1
— The Kobeissi Letter (@KobeissiLetter) January 19, 2025
Early Official Trump patrons have turn into millionaires in a single day. For example, an investor who bought $1 million value of $TRUMP at 0.18 noticed his funding balloon to $416 million on the meme coin’s all-time excessive. Whereas he has realized some earnings, he’s nonetheless holding a majority of his TRUMP portfolio.
In the meantime, Donald Trump’s notional web value was up by almost $60 million on the coin’s peak worth.
The Official Trump worth is at the moment buying and selling at $56 with a $11.2 billion undiluted valuation and $56 billion FDV. Whereas it’s down by 25% from its all-time excessive, the current Binance and Coinbase spot listings imply it might simply kind a brand new peak within the coming days.
In the meantime, the Solana worth has entered worth discovery, hitting an all-time excessive of $293. It’s up by almost 42% over the previous month, as in comparison with Ethereum’s tepid worth motion.
Contemplating Trump selected to launch his meme coin on Solana and never on Ethereum is a serious victory for SOL bulls. The President-elect is reportedly receptive to the thought of
Many analysts have raised SOL’s worth goal. Ali Martinez highlights that the Solana worth has damaged out of a cup-and-handle bullish sample, which has a goal of $4000.
$TRUMP launched on #Solana, not #Ethereum! https://t.co/9hR3FzAi66
— Ali (@ali_charts) January 18, 2025
May Solana Layer-2 Token Solaxy Be Subsequent 100x Crypto?
TRUMP’s bull rally has dried up liquidity within the meme coin sector, leading to a broad-based decline. Nonetheless, high-upside Solana meme cash proceed to skyrocket.
For example, Fartcoin ($FARTCOIN) reached a brand new all-time excessive of $2.2. Equally, a brand new crypto coin Solaxy (SOLX) has impressed consultants with its presale efficiency, elevating almost $12 million in brief order.
Solaxy’s stellar presale efficiency isn’t a shock for these conscious of its key promoting factors. With the thrill surrounding Solana’s ecosystem, the primary distinguished SOL Layer-2 token being in excessive demand isn’t out of the strange.
As such, Solana’s community seems to be combating the heavy congestion attributable to Trump’s meme coin mania. High US-based alternate Coinbase knowledgeable customers they might expertise a delay whereas sending and receiving SOL.
Solana additionally noticed main community scalability points throughout final yr’s meme coin season as properly. On this regard, Solaxy could possibly be a game-changer, with its roll-up structure anticipated to play a key position in decreasing downtimes, providing infinite scalability and quick and low-cost transactions on each chains.
Buyers are bullish on SOLX’s upside potential, with many calling it the subsequent 100x crypto.
Early Solaxy patrons have additionally benefitted tremendously from its native staking pool, which is at the moment providing a reward price of over 300%.
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