The pre-inauguration frenzy surrounding the Donald Trump memecoin has resulted in a notable spike in new Solana addresses, reaching nearly 9 million daily just before Inauguration Day. This surge was propelled by the launch of the TRUMP memecoin on January 17, which quickly garnered a market cap exceeding $12 billion despite criticisms of memecoins lacking real-world utility. The Solana blockchain, once criticized, emerged as the preferred platform for launching these tokens. Following the TRUMP token's peak at $73.43 on January 19, it experienced significant volatility, trading around $38 shortly thereafter. Additionally, First Lady Melania Trump introduced her own memecoin, which attracted 500,000 users in a matter of hours, although concerns arose regarding its potential for a “rug pull” due to 90% of the token supply being held in a single wallet. This trend indicates a broader interest in utilizing memecoins to monetize internet culture and community engagement within the cryptocurrency space.

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