Solana is reaping the rewards of being the home for Donald Trump's official meme coin.
The price of Solana (SOL) surged to a new all-time high price mark according to some price sources Saturday, with both CoinMarketCap and crypto exchange Coinbase showing a new peak mark near $269 for the network's native coin.
As of this writing, CoinMarketCap shows SOL up by 14% on the day at a current price of $250. It's the only gainer in the top 10 coins over the past 24 hours, and one of just two coins in the green among the top 30, with Sui (SUI) up about 2.5%.
Did Donald Trump Really Just Drop a Solana Meme Coin?
Talk about a Friday night surprise. President-elect Donald Trump's social media accounts shared what appears to be an official Solana meme coin called TRUMP, just three days before he's set to be sworn in for his second term in the White House. Degen traders bought in immediately, generating hundreds of millions of dollars' worth of trading volume as on-chain sleuths and security experts hunted for red flags. But with Trump's X and Truth Social posts still live after more than an hour, and some...
Not every price tracker shows an all-time record for Solana on Saturday, however: CoinGecko shows a daily peak above $262, landing less than a dollar shy of that site's SOL record of $263.21 from November.
What's indisputable, however, is that Solana—the leading meme coin chain over the past year—is riding the Trump wave. And TRUMP remains in hot demand, with CoinGecko showing nearly double the amount of trading volume for the Solana token over Dogecoin, the original and most valuable meme coin by market cap.
Nearly $12.4 billion worth of TRUMP has changed hands since late Friday, while Dogecoin trading volume is just shy of $6.5 billion over the last day. And Dogecoin has had that full 24-hour period, while TRUMP wasn't available for the first few hours of that rolling span.
TRUMP is currently trading hands for over $26 per token, with a market cap of $5.25 billion.
