Google for the terms “buy cryptocurrency” and “buy Solana” (SOL) amid official Trump (TRUMP) memecoin craze, as buzz generated by President-elect Trump’s Solana-based meme token attracts non-crypto natives Search volume has skyrocketed. .
According to Google Trends, which rates search volume on a scale of 0 to 100 (100 being the highest search volume), both terms jumped to 100.
Additionally, amid the speculative hype, searches for ‘Coinbase’ and ‘cryptocurrency app’ also surged to 100.
The incoming US president’s launch of the TRUMP memecoin and its subsequent rapid price rise shocked the cryptocurrency world, garnering mixed reactions from market participants.
Google search volume for “buy cryptocurrency” and “buy Solana.” source: google trends (purchase Solana), google trends (Purchase cryptocurrency)
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The Trump official sparked initial skepticism from traders who questioned the authenticity of the memecoin due to the existence of several fake Trump-themed tokens.
“My new official Trump Meme is here! Now is the time to celebrate everything we stand for. victory! Join my very special Trump community. Get Trump now,” the president-elect wrote on X.
Traders have questioned whether the message was the result of a social media hack. However, members of Trump’s team later confirmed the authenticity of the memecoin, which caused the price of the token to skyrocket.
According to data from CoinMarketCap, TRUMP has a fully diluted value of approximately $67 billion and is currently trading at approximately $67 per token as of this writing.
The maximum supply of MEMCOIN is approximately 1 billion, with 200 million tokens already in circulation.
TRUMP memecoin price action. source: CoinMarketCap
TRUMP’s historic price rise triggered a corresponding rise in Solana’s underlying asset, SOL, pushing the altcoin to an all-time high of $270 per coin.
Arthur Hayes, market analyst and co-founder of the BitMEX exchange, is targeting a fully diluted value of $100 billion for the token by Trump’s inauguration on Monday, January 20, 2025.
Hayes added that memecoins theoretically have the potential to bring political accountability, and announced that he would be publishing an essay exploring this topic.
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.
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