Time: 2024-05-25
In 2024, there was a significant surge in Solana users thanks to the introduction of various popular memecoins on the platform. This growth has helped Solana recover from the FTX downfall. The price of Solana tokens jumped from under $10 after the collapse of FTX to over $200 in 2024. The success of these memecoins has been a major contributing factor.
One of the key reasons for Solana's increased popularity is the ease of creating new tokens with lower transaction costs compared to the ethereum blockchain. This led to a memecoin resurgence on Solana, attracting significant attention to the platform.
A remarkable development in the memecoin space has been the emergence of politically-themed tokens, including Jeo Boden (BODEN) and Doland Tremp (TREMP) targeted at Joe Biden and Donald Trump, respectively. Despite their crude designs and misspelled words, both tokens have experienced substantial price surges.
Tremp, in particular, has gained significant traction recently. After hitting an all-time high above $1.40 and surpassing a $100 million market cap, Anatoly Yakovenko, the co-founder of Solana, congratulated the project with a tweet, leading to a 70% price spike in one day.
Moreover, Donald Trump's response to the Jeo Boden token and the subsequent price movements of BODEN and TREMP further highlight the growing influence of memecoins in the crypto space.
The rise of memecoins, despite their unconventional nature, has attracted massive investments and even garnered attention from industry leaders like the Solana co-founder and political figures like Trump.
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