Solana (SOL), one of the leading cryptocurrencies globally, has reached a new all-time high, driven by unexpected developments that caught the market’s attention.
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The surge followed the announcement that U.S. President Donald Trump had launched a memecoin operating on the Solana blockchain. This unusual move fueled significant excitement among investors, propelling SOL’s price beyond its previous record.
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Currently trading at approximately $251 after a slight correction, Solana managed to surpass its previous high of $263. The altcoin experienced a remarkable 20% price increase in the past 24 hours, although its volatility remains notably high.
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Despite this impressive rally, Solana holds its position as the fifth-largest cryptocurrency by market capitalization, trailing just behind Tether.
