Memecoins
Solana and SOL-based memecoins surge as market rally follows Trump assassination attempt
Solana and SOL-based memecoins surge as market rally follows Trump assassination attempt
Solana (SOL) The cryptocurrency’s price has increased by 3.8% in the past 24 hours as the market rebounded after the failed assassination attempt on former President Donald Trump. The event, which many believe boosts Trump’s presidential candidacy, has also led to a remarkable surge in Solana-based coins, which are outperforming SOL.
Among the meme pieces launched on Pump.fun, Billy (BILLY) has climbed 12% over the past day, while another token Pump.fun, Michi (MICHI)has also seen impressive gains, jumping 36% in the last 24 hours. However, BILLY has so far cemented its position as the largest token created on the platform in terms of market cap. Currently, Billy has a market cap of $168 million, followed by Michi in second place with $124 million.
Other Solana coins have also outperformed SOL. Popcat (POPCAT) grew by 30%, reaching a market capitalization of $873 million. In addition, Dog Hat (WIF) increased by 24%, and Bonk (BONK) is up 13%, indicating a broader growth trend in the Solana coin market over the past 24 hours.
The surge follows the German government’s decision to liquidate its Bitcoin holdings, which was completed on Friday. The removal of this significant selling pressure helped the market begin its recovery over the weekend.
The failed assassination attempt on Trump, which appeared to have boosted his chances of being elected, further bolstered the rally. With Trump being seen as a pro-cryptocurrency candidate, his perceived electoral advantage had a positive impact on crypto markets.