Crypto and Solana Search Volumes Surge
20 Jan, 2025 ● Coin news
Google search volumes for “buy crypto” and “buy Solana” have spiked in the wake of the Official Trump (TRUMP) memecoin frenzy, drawing attention from non-crypto enthusiasts.
Data from Google Trends, which measures search volume on a scale from 0 to 100 (with 100 being the peak), shows that both terms have surged to 100.
Similarly, searches for “crypto app” also reached a score of 100, fueled by the speculative hype surrounding the token.
The launch of the TRUMP memecoin by the incoming U.S. president, followed by its meteoric price rally, sent ripples across the cryptocurrency market and sparked a variety of reactions from traders and analysts.
Initially, traders were skeptical of the memecoin’s authenticity, given the presence of numerous knock-off Trump-themed tokens. President-elect Trump announced on X:
“My NEW Official Trump Meme is HERE! It is time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW.”
The announcement led some to question whether the post was the result of a social media hack.
However, Trump’s team later confirmed the memecoin’s legitimacy, which caused a rapid surge in its price.
According to CoinMarketCap, the TRUMP token currently has a fully diluted valuation of approximately $67 billion, with the token trading around $67 each.
The memecoin has a maximum supply of 1 billion tokens, of which 200 million are already in circulation.
The historic rally of TRUMP also contributed to a significant boost in Solana’s native asset, SOL, propelling it to new all-time highs of $270 per token.
Market analyst and BitMEX co-founder Arthur Hayes has predicted that the TRUMP memecoin could reach a fully diluted value of $100 billion by Trump’s inauguration on Monday.
Hayes also suggested that memecoins have the potential to bring political accountability onchain, announcing plans to publish an essay exploring this concept.
Sources:
https://cointelegraph.com/news/buy-crypto-solana-search-volume-surge-trump-meme-frenzy
https://trends.google.com/trends/explore?geo=US&q=Buy%20Solana&hl=en
https://x.com/realDonaldTrump/status/1880446012168249386
