SOL on the rise: the impact of Trump's memcoins on the Solana blockchain

On the eve of the inauguration, Donald Trump drew attention to memcoins by launching the $TRUMP and $MELANIA tokens based on the Solana blockchain with his wife. Their capitalization grew by billions of dollars in a matter of days, but after a sharp rise, the value of tokens quickly collapsed. Nevertheless, this hype has significantly increased the popularity of the Solana blockchain and its $SOL token.

The price of $SOL reached a record of $294 and the trading volume exceeded $50 billion over the weekend, but the price soon dropped to $221. On Tuesday, the coin was trading at $241, adding about 4%. The demand for the token has increased due to its role in the Solana network, where it is used to pay commissions. The high interest even caused disruptions on the Coinbase exchange, which highlighted the need to improve the infrastructure.

Solana has gained the attention of retail investors due to its speed and low fees, making it the preferred choice for memcoins. According to analysts, favorable regulation under Trump could further boost the popularity of $SOL. The token is expected to remain a key asset for memcoin transactions and liquidity pools, and the possible launch of an ETF will attract additional institutional investments.