Solana set to gain from Elon Musk’s D.O.G.E expansion – Here’s how

• Elon Musk’s SOL plans have ignited another buzz, with the blockchain potentially being chosen for his plans with DOGE.
• Is 2025 Solana’s year?

Solana’s [SOL] cutting-edge tech and unmatched throughput stole the spotlight, with Donald Trump choosing its network for the TRUMP launch.

Now, all eyes are on Elon Musk as speculation heats up about Solana blockchain powering his D.O.G.E venture.

Solana: The chosen one?

It’s no surprise that SOL’s recent price action has been largely fueled by high-profile use cases. Recently, the Official Trump [TRUMP] memecoin drove SOL to a new all-time high, surging over 19% just hours after its launch.

But as with all “hype”, it’s quickly fading. SOL is now down 16%, with the MACD crossover hinting at a bearish shift. 

Plus, a 10% dip in just 24 hours – far worse than its rivals – shows heavy profit-taking, as SOL remains 31% up from its previous support. 

Clearly, the gains from the TRUMP memecoin are nearly wiped out, signaling a massive sell-off as savvy investors cashed out when the momentum slowed.

Still, it helped SOL break free from its slump, pushing it past $200. The ‘Trump pump’ brought in $33 billion in volume — the highest ever in a single day.

Source: Santiment

Given all this, it’s no wonder the market is buzzing after Elon Musk hinted at another blockchain-inspired use case for his DOGE project.  Though Solana wasn’t named, history suggests it could be the chosen one.

Think back to the 2021 Dogecoin [DOGE] rally. Elon Musk’s endorsement sent DOGE up over 1,000%. Could SOL be next in line for a similar 2025 surge?

Elon Musk: SOL’s new savior?

Since Trump’s ‘pro-crypto’ push, the line between blockchain and politics is growing closer. Stricter regulations, zero capital-gain tax, and the rise of strategic reserves are grabbing headlines.

While an executive nod is still pending, it’s clear this is just the beginning of what 2025 has in store.

Meanwhile, Elon Musk’s growing interest in using blockchain for DOGE – tracking funding, making payments, and securing data – adds more excitement.

With Solana’s powerful tech, it’s easy to see why it could lead the way.

Solana’s unique consensus mechanism lets it process transactions fast, encrypt data, and protect information like no other, helping it outpace competitor blockchains in on-chain trading volume.

Source: DeFiLlama

The TRUMP launch is a prime example of this, and Solana’s own cross-chain initiatives are taking it even further.

Is your portfolio green? Check out the Solana Profit Calculator

And with Grayscale’s growing demand for a SOL ETF and the SEC becoming more crypto-friendly, 2025 could be Solana’s breakthrough year.

Given all this, it’s not far-fetched to imagine Elon Musk picking SOL for his DOGE venture.