Solana cryptocurrency surges 40% in a week due to launch of $TRUMP and $MELANIA meme coins.

From Nasdaq: 2025-01-21 00:35:15

The price of Solana (SOL) cryptocurrency surged 60% to over $290 before experiencing significant volatility, now sitting above $260, up 40% in a week. The recent rally is attributed to the launch of meme coins by President Trump on Solana’s blockchain, making SOL the world’s fifth-largest cryptocurrency with a market cap of $130 billion.

Cryptocurrencies rallied post-Trump’s election win, with Bitcoin surpassing $100,000 and XRP seeing strong growth. The $TRUMP meme coin on Solana has gained over 700% since launch, with a market cap of $10 billion. Melania Trump also launched $MELANIA, both aimed at supporting values, not as investments.

SOL’s breakout could be the start of a larger rally, driven by potential ETF launch and Trump’s crypto-friendly SEC pick. A Solana ETF approval expected this week could boost market credibility, institutional investment, and retail access. Despite volatility, SOL has outperformed S&P 500 over the years.

Trefis High Quality Portfolio, less volatile than SOL, outperformed S&P 500 over the past four years. SOL’s returns in January 2025 are 16% MTD and 107% since 2024, totaling 14,436% since 2017. S&P 500 returns are 2% MTD and 26% since 2024, totaling 168%.



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