$TRUMP Coin Mania: Redefining Memecoins and Shaping Crypto’s Future
The post $TRUMP Coin Mania: Redefining Memecoins and Shaping Crypto’s Future appeared on BitcoinEthereumNews.com.
Within 60 hours of its inception, the memecoin had risen by more than 300% and reached a FDV of $70 billion. Memecoins garnered 30.67% of the attention in 2024, making them the most popular crypto story. During the weekend before his inauguration, President Trump’s associated memecoin $TRUMP was the talk of the cryptocurrency world and beyond. Late Friday, Trump revealed the Solana-based memecoin via his Truth Social and X accounts. The post read: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.” Within 60 hours of its inception, the memecoin had risen by more than 300% and reached a fully diluted valuation (FDV) of $70 billion. Even though the market has already recovered some of its gains after the inauguration, $TRUMP is presently ranked 29th by Coingecko metrics and has a $6.8 billion market value. Across the financial market and cryptocurrency divide, this development has generated both excitement and criticism. Supporters of the move contend that it is a positive indication of the Trump administration’s commitment to fostering innovation in the crypto space, while opponents worry about the blurring of the boundaries between Trump’s personal projects and his position as president. Both sides have good points, of course, but if you’ve been watching the cryptocurrency scene for a while, you’re surely be aware that $TRUMP is revolutionizing the memecoin market. First lady Melania also revealed her memecoin, albeit it hasn’t done as well as $TRUMP’s. This is the first time in history that a sitting president has created a memecoin. A Favourable Era for Memecoins Memecoins garnered 30.67% of the attention in 2024, making them the most popular crypto story. The other 19 segments split the remaining interest. Interest in this market has grown even more since the launch of…
Filed under: News - @ January 27, 2025 4:20 am