Trump Memecoin Reaches Record Highs While Solana (SOL) Hits a New ATH
Trump Memecoin Reaches Record Highs While Solana (SOL) Hits a New ATH
The cryptocurrency market witnessed an unprecedented event on January 19, 2025, with the launch of former President Donald Trump’s official memecoin, dubbed «Official Trump» (TRUMP). This event has sparked a wave of enthusiasm within the crypto community and propelled Solana (SOL) to a new all-time high (ATH), surpassing $270, further solidifying its market position.
TRUMP Launch on Solana Network: Market Impact
The «Official Trump» token was unexpectedly announced via the former president’s official channels, urging users to purchase it through an authorized centralized exchange. The memecoin, issued on the Solana blockchain, has triggered speculation regarding the sustainability of SOL’s recent surge. The token now boasts a market capitalization exceeding $120 billion, drawing closer to Ethereum (ETH).
The launch of TRUMP on Solana came as a surprise to many, as Trump had previously been linked to Ethereum through his association with World Liberty Financial, a digital asset platform closely tied to his team.
A Timely Launch: Trump’s «Crypto Ball» Event
The memecoin debut coincided with Trump’s «Crypto Ball,» an exclusive event in Washington, D.C., where key industry figures—such as Michael Saylor (MicroStrategy), Brian Armstrong (Coinbase), the Winklevoss twins (Gemini), and David Sacks—discussed the future of the crypto sector under a potential second Trump administration.
Despite the highly competitive memecoin market, TRUMP quickly reached a market capitalization of $6.9 billion within the first few hours, securing immediate listings on exchanges such as Bybit, Bitget, and KuCoin. With a total supply of 1 billion tokens, 80% remains in the hands of the issuers.
Liquidity and Mass Adoption Drive TRUMP’s Success
It has been revealed that 44.4 million TRUMP tokens were placed in single-sided liquidity pools through the decentralized exchange Meteora (DEX), in collaboration with Jupiter DEX, facilitating automated market making (AMM). The two largest liquidity pools include:
- TRUMP-USDC: Total value locked (TVL) of $483 million.
- TRUMP-SOL: TVL of $67 million.
As of today, the price of TRUMP stands at $24.60, making it the 28th largest cryptocurrency by market capitalization. Its trading volume has surpassed $7 billion, overtaking iconic memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB).
Solana’s Dominance in the DeFi Sector Strengthens
The rise of TRUMP has further strengthened the Solana ecosystem, attracting over 200,000 users to the official Moonshot purchase app, generating nearly $400 million in trading volume within the first 24 hours.
However, the surge of TRUMP has negatively impacted other memecoins, with significant declines in:
Dogecoin (DOGE): -6%
Shiba Inu (SHIB): -7.5%
PEPE: -10.5%
Dogwifhat (WIF): -8%
Future Outlook: Can TRUMP Maintain Its Value?
The future of TRUMP and Solana depends on their ability to sustain investor interest and expand institutional adoption. Analysts suggest that for SOL to surpass $300, the approval of a Solana spot ETF by the SEC will be crucial—a key factor for further price surges.