Solana's Surge Propels Sharp Rise In Google Searches, Analyst Says BONK Also A Catalyst
Portfolio Pulse from Mehab Qureshi
Google search volume for 'Solana' has increased by 250% in two months, attributed to Solana's price surge of 224% and the popularity of BONK memecoin on its network. Solana Saga phones sold out, with some fetching $5,000 on eBay, driven by demand for the Bonk airdrop. Other cryptocurrencies like Bitcoin and Ethereum also saw increased search volumes, but less dramatically.
December 19, 2023 | 4:51 am
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POSITIVE IMPACT
The popularity of BONK memecoin, especially on the Solana network, has contributed to the surge in Google searches for Solana, which may also reflect positively on BONK's visibility and investor interest in the short term.
The association of BONK memecoin with the increased interest in Solana, as indicated by the rise in Google searches, suggests that BONK may also benefit from the heightened attention and potentially see an uptick in its price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The surge in Google searches for Solana and the sell-out of Solana Saga phones at high prices indicate strong interest and could lead to increased investor attention and potentially higher prices for SOL in the short term.
The significant increase in search volume for Solana and the high resale value of Solana Saga phones are indicators of growing public interest and demand, which can positively influence the price of SOL as more investors may be drawn to the cryptocurrency.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90