Solana’s native SOL token hit a lifetime peak of over $275. This surge was driven by the launch of Donald Trump’s official memecoin on the Solana blockchain. The memecoin, named $TRUMP, was issued by a team including ecosystem giants Jupiter and Meteora. Within six hours of its launch, $TRUMP’s price skyrocketed from a few cents to $14. By Sunday, it was trading above $44, making it the third-largest memecoin by market capitalization, surpassing pepecoin (PEPE). The launch led to a significant increase in SOL trading volumes, jumping from $3 billion on Thursday to over $26 billion in the past 24 hours. Weekly gains for SOL reached over 46%, a nearly 3,000% increase since its three-year low of $9 in December 2022. The token launch was coordinated by CIC Digital LLC and Fight Fight Fight LLC, with 80% of tokens subject to a vesting period of over three years.
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