TRUMP's influence on Solana's network activity is no small thing. The token already caused transaction delays when the President publicly acknowledged his link to the meme coin.
Trump coin’s price action has been closely linked to Solana’s network activity. The meme coin’s positive performance has pushed its positive momentum to extremes, as indicated by the RSI reaching 81. This could set the stage for a pullback.
However, the MACD’s histogram suggests that positive momentum is still strong, and a pullback will only be confirmed if the RSI crosses below the signal line.
Solana’s DeFi Applications Also See Gains with Trump Coin’s Rally
Trump coin’s impact on Solana’s network activity is evident. The token has previously caused transaction delays when the President’s link to the meme coin was highlighted.
Coinbase was prompted to issue an apology over a backlog of Trump coin orders that were not executed promptly due to heavy congestion on the Solana blockchain.
Beyond SOL, Jupiter (JUP), the native asset of Solana’s top DEX aggregator, and Raydium (RAY), the ecosystem’s leading decentralized exchange, also saw their prices increase by 16.6% and 16.8%, respectively.
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