Unsurprisingly, recent SOL price swings have been largely driven by high-profile usage scenarios. Most recently, President Trump's official mimcoin [TRUMP] pushed SOL to all-time highs, soaring more than 19% in just a few hours after launch.
However, like all hype, it quickly faded:
#SOL is now down 16%, and the MACD crossover indicates a bearish trend.
Moreover, a 10% drop in just 24 hours (within 24 hours) Moreover, a 10% drop in just 24 hours (much worse than its peers) indicates a strong sell-off to take profits, as the SOL is still 31% above previous support levels.
The gains of TRUMP memecoin have apparently been almost wiped out, indicating a massive sell-off as savvy investors withdrew their money when the momentum waned
however, SOL came out of the drop and reached the $200 mark.
Given all this, it's not surprising that the market perked up after
#Elon Musk hinted at another blockchain option for his
#DOGE project. .
#Solana hasn't been named yet, but historically Solana could be that choice.
Remember the Dogecoin [DOGE] rally in 2021. DOGE went up more than 1000% in favor of Elon Musk. Could SOL be the next to experience a similar surge in 2025? Elon Musk: the new savior of SOL?
With President Trump's defense of cryptocurrencies, the line between blockchain and politics is getting tighter. Tightening regulations, zero capital gains tax, and the growth of strategic reserves have captured the public's attention. No decisions have been made yet, but it's clear that this is just the beginning of the road to 2025. Meanwhile, Elon Musk's DOGE (finance, payments and data)
Given Solana's powerful technology, it's easy to see why Solana could become a leader:
Solana's unique consensus Launch
TRUMP is a prime example of this, and Solana's unique cross-chain concept is leading the way.
And given the growing demand for Grayscale's SOL ETF and the SEC's increasing softness on cryptocurrencies, 2025 could be a breakthrough year for Solana. Elon Musk may choose SOL for his DOGE venture.
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