Solana set to gain from Elon Musk’s D.O.G.E expansion – Here’s how
- Elon Musk’s SOL plans have ignited one other buzz, with the blockchain doubtlessly being chosen for his plans with DOGE.
- Is 2025 Solana’s yr?
Solana’s [SOL] cutting-edge tech and unmatched throughput stole the highlight, with Donald Trump selecting its community for the TRUMP launch.
Now, all eyes are on Elon Musk as speculation heats up about Solana blockchain powering his D.O.G.E enterprise.
Solana: The chosen one?
It’s no shock that SOL’s latest worth motion has been largely fueled by high-profile use instances. Just lately, the Official Trump [TRUMP] memecoin drove SOL to a brand new all-time excessive, surging over 19% simply hours after its launch.
However as with all “hype”, it’s shortly fading. SOL is now down 16%, with the MACD crossover hinting at a bearish shift.
Plus, a ten% dip in simply 24 hours – far worse than its rivals – exhibits heavy profit-taking, as SOL stays 31% up from its earlier help.
Clearly, the beneficial properties from the TRUMP memecoin are practically worn out, signaling a large sell-off as savvy buyers cashed out when the momentum slowed.
Nonetheless, it helped SOL break away from its stoop, pushing it previous $200. The ‘Trump pump’ introduced in $33 billion in quantity — the very best ever in a single day.
Supply: Santiment
Given all this, it’s no marvel the market is buzzing after Elon Musk hinted at one other blockchain-inspired use case for his DOGE challenge. Although Solana wasn’t named, historical past suggests it may very well be the chosen one.
Assume again to the 2021 Dogecoin [DOGE] rally. Elon Musk’s endorsement despatched DOGE up over 1,000%. May SOL be subsequent in line for the same 2025 surge?
Elon Musk: SOL’s new savior?
Since Trump’s ‘pro-crypto’ push, the road between blockchain and politics is rising nearer. Stricter rules, zero capital-gain tax, and the rise of strategic reserves are grabbing headlines.
Whereas an govt nod continues to be pending, it’s clear that is just the start of what 2025 has in retailer.
In the meantime, Elon Musk’s rising curiosity in utilizing blockchain for DOGE – monitoring funding, making funds, and securing information – provides extra pleasure.
With Solana’s highly effective tech, it’s straightforward to see why it may cleared the path.
Solana’s distinctive consensus mechanism lets it course of transactions quick, encrypt information, and shield data like no different, serving to it outpace competitor blockchains in on-chain buying and selling quantity.
Supply: DeFiLlama
The TRUMP launch is a chief instance of this, and Solana’s personal cross-chain initiatives are taking it even additional.
Is your portfolio inexperienced? Take a look at the Solana Revenue Calculator
And with Grayscale’s rising demand for a SOL ETF and the SEC changing into extra crypto-friendly, 2025 may very well be Solana’s breakthrough yr.
Given all this, it’s not far-fetched to think about Elon Musk selecting SOL for his DOGE enterprise.
