Solana has experienced a significant boost in the past 24 hours, delivering gains of 9.1% to investors to reach $265 per coin a day after Donald Trump signed an executive order that aims to transform America into “the crypto capital of the world.”
During an interview with Fox Business, Trump’s advisor for crypto and artificial intelligence, David Zacks, went on to categorize meme coins as “collectibles” when questioned about how the administration will treat digital assets from a legal standpoint.
Categorizing these assets as such will boost their credibility and possibly incentivize companies to issue these tokens to investors once their legal status is more clearly defined.
As one of the most popular platforms to create and sell meme coins, Solana (SOL) would benefit from this regulatory clarity. Donald Trump’s decision to mint his celebrity token Official Trump ($TRUMP) and the First Lady’s meme coin, $MELANIA, was also a pad in the back for the smart contracts network.
In the past 30 days, Solana has experienced gains of 35.5% while it is also standing as the second-best performing cryptocurrency of the top 10 with a 40.2% year-to-date return. Trading volumes have also surged by 46.4% in the past 24 hours and currently stand at $94 billion, according to data from CoinMarketCap.
Meanwhile, the best meme coins like Pepe (PEPE) and Dogecoin (DOGE) are also experiencing price upticks of 8% and 4.4%, respectively, as Zacks’s comments further support the expansion of this segment of the crypto market.
Solana Hits Key Resistance – How Will the Market React?
Today’s jump in the price of Solana (SOL) is pushing the asset to a key resistance level at $270, which could determine the future trajectory of the token depending on what happens next.
Thus far in the session bulls have not managed to cross this level without facing significant selling pressure at that point. If Solana closes below this mark, a double-top pattern would be in play.
This is a high-probability bearish setup that typically results in a significant drop in the price of the asset. However, a bull flag is also in play, meaning that any declines that SOL faces may be limited.
The MACD is currently on an uptrend and momentum is still at high levels. However, traders should pay attention to what happens in the next 48 hours as the market reacts and digests these important developments.
Here’s Why Solaxy is Among the Best Crypto to Buy in 2025
Solaxy ($SOLX) a layer-two Solana scaling protocol, could be one of the best crypto presales of the year as it has managed to raise over $14 million from investors in less than a month and a half.
With the help of the Trump administration, meme coins may progressively move to become an adequately regulated segment of the crypto market. This could open up the door for the approval of exchange-traded funds (ETFs) and incentivize institutions to launch fan tokens in the U.S.
As a result, billions of dollars could flow into the sector and propel Solana’s market value while also increasing its transaction volumes.
However, the congestion issues that the Solana network experienced back when $TRUMP was released could endanger its status as the preferred blockchain for minting meme coins.
This is where Solaxy fits perfectly, as its scaling mechanism will allow the network to keep up with these higher transaction volumes. The protocol is designed to group transactions offline to alleviate the mainnet’s congestion and maintain high success rates.
At its discounted price of $0.001612, the $SOLX token offers significant upside potential to early investors who get in before the presale event ends.
To buy $SOLX, simply head to the Solaxy website, connect your wallet (e.g. Best Wallet), and wait until the claim date is announced to receive the tokens. You can also use a bank card to complete the transaction if you don’t own any crypto at the moment.
Trump’s executive order could be a major tailwind for the crypto industry and Solaxy is positioned favorably to benefit from this development. Don’t miss the train, buy $SOLX today.
