TRUMP memecoin makes record price run, possibly multiplying Donald Trump’s net worth by 5x
The "official" $TRUMP memecoin has seen almost $10 billion in trading volume in less than 24 hours, and the rally looks set to continue On Jan. 18, 2025, the cryptocurrency market witnessed a significant event with the launch of the "OFFICIAL TRUMP" ($TRUMP) memecoin on the Solana blockchain. Its price has soared over 490% in less than 24 hours.
OFFICIAL TRUMP becomes top 30 crypto overnight :
Donald Trump has announced the token from his official accounts on Truth Social and X, and the token’s introduction led to a whirlwind of activity, capturing headlines and the attention of traders worldwide.
This rapid rise was fueled by a near 500% surge in value shortly after its debut, with 24-hour trading volumes exceeding $12 billion.
The launch of TRUMP had a profound impact on the Solana ecosystem. The token, which was built on Solana, has attracted traders’ attention for memecoin creation and significantly boosted its trading volumes.
Solana’s native token, SOL, experienced a notable jump in price, rising to hit a new all-time high above $270 on the day.
This jump was part of a broader trend where Solana-based memecoins and DeFi projects saw increased interest, leading to a shift in liquidity from other networks like Ethereum, where several prominent memecoins saw dips in value due to this shift.
Moreover, SOL price has jumped against Etherium
to a new all-time high of 0.081, largely due to the launch of the TRUMP memecoin.
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