- Google searches for “buy crypto” and “Solana” hit peak interest levels of 100 amid TRUMP memecoin hype.
- TRUMP memecoin’s $67 billion valuation sparks Solana rally, taking SOL to an all-time high of $270
What happened: TRUMP memecoin frenzy sparks search and price surges
Google search volumes for “buy crypto” and “Solana” have surged to peak levels following the launch of the Official Trump (TRUMP) memecoin. The token, launched by US President-elect Donald Trump, has drawn widespread attention from both crypto enthusiasts and non-crypto natives, fuelling market speculation.
According to Google Trends data, search volumes for the terms “buy crypto” and “buy Solana” reached 100 on the interest scale, the highest possible ranking. Additionally, searches for “Coinbase” and “crypto app” also soared amid the excitement.
Initially met with scepticism due to concerns about authenticity, the TRUMP memecoin was later confirmed by the Trump team, leading to a meteoric price rise. The token currently boasts a fully diluted valuation of $67 billion and trades at around $67 per coin. The maximum supply of $1 billion tokens, with $200 million in circulation, further fuelled the speculative frenzy.
The launch also positively impacted Solana’s native token, SOL, which hit a record high of $270. Analysts, including BitMEX co-founder Arthur Hayes, predict the token’s valuation could reach $100 billion by Trump’s inauguration.
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Why it’s important?
The TRUMP memecoin launch reflects the growing intersection of politics and cryptocurrency, illustrating how high-profile figures can impact digital markets. With a valuation of $67 billion and massive public interest, the token has driven a surge in demand for related assets like Solana, highlighting its influence beyond traditional financial markets.
The rise of TRUMP memecoin underscores the increasing importance of meme-based tokens in engaging new users and creating speculative opportunities. Moreover, its impact on Solana demonstrates how memecoins can drive value for associated blockchains, potentially setting a precedent for future launches.
However, concerns about authenticity, market volatility, and sustainability persist. The development could influence regulatory discussions as governments evaluate the risks and benefits of politically linked cryptocurrencies.
