Two days before the US presidential inauguration, the TRUMP memecoin launched on Solana and a rush of buyers bridged into the chain to get it. SOL rose from about $219 to $262 on January 18 2025, then printed an all-time high near $295 the following day before giving much of it back.
This is a brutal session because the move was driven by a single speculative frenzy rather than a steady trend: the rally went vertical over a weekend, the next day fell nearly 20% from its high, and the top arrived with no warning beyond the speed of the climb.
Same engine, same hidden right-hand side — a different day's problem.