Solana's price surged to a new all-time high of 0.00936 against Ether on January 19, boosted by the memecoin associated with incoming U.S. President Donald Trump, Official TRUMP ($TRUMP). This surge in interest has led to a significant increase in both Solana's price and trading volume. As of January 20, the total value locked (TVL) on Solana’s network surpassed $12 billion, marking a nearly 50% increase in just one week. Solana’s TVL growth far exceeds that of other layer-1 blockchains such as Ethereum, which experienced a decrease in TVL over the same period. The number of daily transactions also rose sharply amid the memecoin hype, indicating a resurgence in network activity. Analysts suggest that SOL's price may have further upside potential, with predictions of reaching between $300 and $685 by the end of January, although some analysts caution that $300 could represent a cycle top. Technical indicators also suggest potential bullish momentum for SOL.

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