Solana's price increased dramatically, hitting a new all-time high of 0.00936 against Ethereum on January 19 before partially retracting. The surge is primarily driven by interest in the Official TRUMP memecoin ($TRUMP) linked to incoming US President Donald Trump, leading to heightened trading volume and SOL price growth. Solana's Total Value Locked (TVL) crossed the $10 billion mark on January 18 and soared to over $12 billion, marking a near 50% increase in just a week. This TVL spike places Solana significantly ahead of Ethereum, which has experienced a slight contraction in TVL. The number of daily transactions also rose notably during this period. Analysts predict further upward momentum for SOL, with some forecasting a potential price target of $300 by the end of January, while others speculate even higher targets. Technical indicators suggest there remains room for increases before reaching overbought conditions.

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