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01/22 01:27

How TRUMP’s 250,000% Rally Fueled Solana’s Growth

How TRUMP’s 250,000% Rally Fueled Solana’s Growth

In a stunning turn of events, the TRUMP token has soared a staggering 250,000% in just 24 hours, leaving many altcoins in the dust.

The unprecedented rally has drawn comparisons to the ICO boom that sent Ethereum [ETH] from $1 to over $1,100, raising the question: Is the crypto market on the brink of another meme bubble?

In addition to its own meteoric rise, the TRUMP token is having a ripple effect on Solana, with on-chain data showing a strategic purchase of $7 million worth of SOL by the TRUMP team wallet, further adding to the altcoin’s market momentum.

 TRUMP Token: 250,000% Surge, Outshining Market

TRUMP token’s 250,000% surge in just 24 hours puts it in a league of its own, as seen in the 3D screener.

While most altcoins are clustered in a tight range of price and RSI movement, TRUMP has exploded into a league of its own, far outperforming its peers on a daily basis.

This dramatic surge reflects unprecedented speculative interest, dwarfing the gains seen during even the biggest memecoin rallies.

TRUMP’s meteoric rise highlights its ability to dominate the narrative, leaving other tokens scrambling for attention.

$7M SOL Purchase Adds Momentum

The latest data suggests a strategic move by the TRUMP token team, funneling liquidity into Solana via Meteora pools.

 The team made $7 million in SOL purchases, mostly through USDC swaps for wrapped SOL (wSOL). This surge in purchases coincides with the removal of liquidity, indicating a strategic reallocation of funds.

The rise in SOL price may be related to the success of TRUMP, which has sparked renewed interest in Solana.

The Impact of TRUMP on SOL Demand

The TRUMP meme coin launched on the Solana blockchain has drawn comparisons to the ICO bubble that fueled Ethereum’s meteoric rise.

Within hours of its launch, TRUMP reached a staggering $8 billion market cap, an example of the speculative fervor that often accompanies meme coins.

The trend highlights Solana’s growing role in the crypto space.  On October 14, 2024, Solana minted over 25,400 meme coins on its Pumpfun platform, setting a record for single-day token launches.

As memecoins proliferate, SOL will play a key role, much like Ethereum did in the ICO era. Such activity drives demand and has driven prices up nearly 30% from their September lows.

History may be repeating itself, but this time Solana is at the forefront.

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