Search volumes for ‘buy crypto’ and ‘solana’ spike amid TRUMP meme frenzy.
Google search volumes for “buy crypto” and “buy Solana” (SOL) have soared amid outrage over the official Trump (TRUMP) memecoin, as the meme token based on President-elect Solana draws non-crypto natives. .
According to Google Trends, which ranks search volume from 0-100, 100 is the highest search volume, with both terms rising to 100.
Additionally, search volumes for the terms “Coinbase” and “crypto app” also rose to 100 amid speculative hype.
The launch of the TRUMP memecoin by the incoming US president and the meteoric price rally that followed sent shockwaves through the crypto world, drawing mixed reactions from market participants.
Google search volumes for “Buy Crypto” and “Buy Solana”. Source: Google Trends (Buy Solana), Google Trends (Buy Crypto)
Related: What Trump's memecoin release signals for crypto regulations
President Trump's memecoin has skyrocketed and grabbed headlines
The official Trump has started to the first doubts from the traders, which is due to the presence of several Trump-themed signs that doubt the authenticity of the memecoin.
“My new official Trump meme is here! It's time to celebrate everything we stand for: Winner! Join my exclusive Trump community. Meet Trump now,” the president-elect wrote on X.
Traders questioned whether the message was the result of a social media hack. However, members of Trump's team later confirmed the authenticity of memecoin – the value of the token is increasing.
According to data from CoinMarketCap, TRUMP has a fully minted value of nearly $67 billion and is currently trading at $67 per token at the time of writing.
Memecoin has a maximum supply of about 1 billion tokens, with 200 million tokens already in circulation.
TRUMP memecoin price action. Source: CoinMarketCap
TRUMP's historic price rally has sparked a similar rally in Solana-native asset SOL – the altcoin to a new all-time high of $270 per coin.
Market analyst and co-founder of the BitMEX exchange, Arthur Hayes, is aiming for a $100 billion fully diluted value by the time Trump is inaugurated on Monday, January 20, 2025.
Hayes added that memecoins theoretically have the potential to bring political accountability onchain, and announced that he will be releasing an essay exploring the topic.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
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