The cryptocurrency world is buzzing with excitement after the launch of Donald Trump’s official meme coin, TRUMP, on the Solana blockchain. Within hours, the token gained massive traction, skyrocketing in value and trading volume, while shaking up the entire meme coin market.

TRUMP Token Soars, Dogecoin and Other Meme Coins Take a Hit

Late Friday, President-elect Donald Trump introduced the TRUMP token, which quickly climbed into the top 40 cryptocurrencies by market cap. This sudden surge redirected liquidity away from other meme coins, causing major names like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) to experience sharp price drops.

For example, Dogecoin initially rose above $0.43, reaching a one-month high on Friday night. However, as traders rushed to invest in TRUMP, DOGE’s price fell to $0.397, marking an 8% decline from its peak. Despite this short-term setback, DOGE remains 18% up for the week.

Other popular meme coins followed a similar pattern:

  • Shiba Inu (SHIB) dropped 6% over the last 24 hours.
  • Pepe (PEPE) fell 5% as investors pivoted to TRUMP.

However, not all meme coins suffered. Solana-based tokens like Bonk (BONK) and SPX6900 (SPX) saw only slight dips, while Fartcoin (FARTCOIN) continued its explosive rally, hitting a new all-time high of $1.75.

Solana Emerges as the Big Winner

As TRUMP’s popularity surged, Solana (SOL)—the blockchain chosen for the token—also saw significant gains. In the past 24 hours, SOL spiked 10%, reaching $244, its highest price since November.

The Solana-based decentralized finance (DeFi) ecosystem is also benefiting:

  • Jupiter’s JUP token jumped 20%.
  • Raydium’s RAY token gained 19%.

At the time of writing, TRUMP is trading at $26 per token, boasting a market cap of $5.25 billion and a trading volume exceeding $12.4 billion—almost double that of Dogecoin in the same period.

What’s Next for TRUMP and the Meme Coin Market?

The official Trump meme coin is reshaping the meme coin landscape, with Solana strengthening its position as the go-to blockchain for meme tokens. Meanwhile, Dogecoin and other established meme coins face increased competition, forcing investors to rethink their portfolios.

As the crypto market adjusts to this new dynamic, one thing is clear: Donald Trump’s influence extends far beyond politics—and now, into the heart of the crypto economy.