- At 60 hours of its creation, Memecoin had increased more than 300% and reached a FDV of 70 billion dollars.
- Memecoins attracted 30.67% of attention in 2024, which made them the most popular cryptographic history.
During the weekend prior to its inauguration, the memecoin associated with President Trump, $ Trump, was the world of cryptocurrency world and beyond. On Friday night, Trump revealed the memecoin based on Solana through his social and x.
The publication said:
“My new Trump official meme is here! It’s time to celebrate everything we represent: Win! Unique my Trump community very special. ”
At 60 hours of its creation, the Memecoin had risen more than 300% and reached a fully diluted valuation (FDV) of 70 billion dollars. Although the market has already recovered some of its profits after the inauguration, $ Trump currently occupies the 29th position according to the Coingcko metrics and has a market value of 6.8 billion dollars.
Throughout the financial market and the division of cryptocurrencies, this development has generated enthusiasm and criticism. The support supporters argue that it is a positive indication of the Trump administration commitment to promote innovation in the cryptographic space, while opponents are concerned that the limits between Trump’s personal projects and their position as president are blurred.
Both parties have good points, of course, but if you have been watching the cryptocurrency scene for a while, you will surely know that $ Trump is revolutionizing the memecoins market. The first lady Melania also revealed her memecoin, although she has not done as well as the $ Trump. This is the first time in history that a president in exercise creates a memecoin.
One was favorable for memecoins
Memecoins attracted 30.67% of attention in 2024, which made them the most popular cryptographic history. The other 19 segments distribute the remaining interest.
The interest in this market has grown even more since the launch of $ Trump; Recent chainysis statistics show that 50% of Trump and $ Melania buyers have never bought an Altcoin in Solana. In fact, on the day of the purchase, 47% of customers created a wallet.
Source: chain analysis
Among the causes is the impact of people such as President Trump. More importantly, his administration had promised to make “the United States the cryptographic capital of the world.” As president of the SEC, Gary Gensler is already excited about the opportunity to make space for Paul Atkins, a cryptocurrency enthusiast.
In addition, an executive order recently issued by the president of the United States will encourage the prudent expansion of the digital asset sector.
A part of the order said:
“The digital asset industry plays a crucial role in the innovation and economic development of the United States, as well as in the international leadership of our nation. Therefore, the policy of my administration is to support the growth and responsible use of digital assets, blockchain technology and related technologies in all sectors of the economy. ”
The United States is expected to initiate the process of creating a government regulatory framework to direct the developments in the field of digital assets when this order enters into force. One of the most important parties analyzes the president’s training group on digital asset markets, which will be crucial to establish the legal framework and perform other tasks, including the evaluation of the viability of building a national reserve of digital assets.
Since memecoins are better positioned to attract a broader spectrum of investors, these regulations will probably benefit the cryptocurrency market in general.
What Memecoins will be mounted on the Trump wave?
In terms of speculative narratives, it is very obvious that memecoins that have gained popularity have some surprise factor behind them.
This is the case of the “mentioned” memecoins of Elon Musk, including Doge and Ladys, and the $ Trump, which has only one month. Since Musk published a photo of a Milady along with the lines: “There is no meme. I love you ”, the latter has increased by more than 9600%. Despite having nothing to do with the Milady NFT project, the Tweet caused a strong increase in the value of Ladys.
Some examples that probably follow Trump’s trend are these memecoins, but why exactly? First, Elon and Trump will play important roles in the next United States government; Any action they perform could trigger a chain of speculative events. What better way to join the culture that buying “affiliate” memecoins?
It is also expected that memecoins pioneer companies prosper, particularly those with animal or internet culture issues such as Mog Coin, Popcat and Shiba Inu.
Since the general value of the cryptocurrency market is almost exceeding the 4 billion brand, current capitalization of the memecoins market of 115,000 million dollars indicates that there is still a lot of space for development. It is likely that bias against Memecoins decreases now that Trump is in office, obtaining a significant amount of financing from other cryptocurrency niches that are receiving less attention.
Conclusion
Since Elon Musk began to make Doge jokes, Memecoin’s ecosystem has advanced significantly. Musk is not the only one that influences memecoins pricing oscillations these days; President Trump and other powerful people are also adopting this trend.
This precedent will probably pave the way for the next wave of Memecoins, where personality cults will be used to generate financial gains through the Memecoins market, in addition to its social value.
It will be fascinating to see how important memecoins such as Shiba Inu, Doge, Ladys, Pepe and Trump respond to the next legislative changes in the United States. Will the greatest rewards get? Time will say it, but according to current trends, the memecoins sector is expected to experience significant growth during Trump’s second mandate.
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