Solana's SOL token rocketed after a meme coin linked to President-elect Donald Trump launched on the popular blockchain network.

The crypto community didn’t hold back after Donald Trump announced the launch of his meme coin ($TRUMP) on Solana.  Social media quickly lit up with memes and

President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.

President-elect Donald Trump promised a crypto-friendly administration. Days before taking office a second time, he began selling a new cryptocurrency. Named $TRUMP, the project is a so-called meme coin,

Explore why investors are riding the iDEGEN wave amid the ongoing demand for meme coins like Donald Trump's TRUMP

Donald Trump is promoting a Solana meme coin from his social media accounts. Elaborate hack or a truly wild new era for crypto?

The price of $TRUMP has risen by more than 300% to just below $29 as of 10:15 a.m. EST Saturday, reaching a market cap of $5.81 billion, according to CoinMarketCap.

"The Trump meme coin stuff is bad for the industry. Don't delude yourself," Anthony Scaramucci wrote on Saturday.

President-elect Donald Trump launched a memecoin on Friday that quickly topped a $10 billion market cap after nearly just an hour. A tweet from his Truth Social account and his verified X account announced $TRUMP just before 10 PM EST.

President-elect Donald Trump announced what appears to be an official Solana meme coin called TRUMP on his Truth Social account.