Donald Trump’s official Trump ($TRUMP) memecoin has risen one other 130% up to now 24 hours, with predictions that it’s going to double in worth by January 20.
“100 Cat” to Trump Meme Coin
Arthur Hayes, co-founder of cryptocurrency alternate BitMEX, has stirred up the crypto neighborhood together with his newest commentary on the rising memecoin.
“Greater than half there,” Hayes stated, including that TRUMP was buying and selling round $60 on Jan. 19.
Degens Let’s have a good time the emperor by sending your memecoin 100 to the cat till Monday.
This rally was a name to motion and a prediction of memecoin’s trajectory. Hayes indicated a $100 billion market cap by Donald Trump’s U.S. presidential inauguration on Jan. 20.
The TRUMP memecoin rally has turn into some of the talked about occasions within the crypto area over the previous few days attributable to its affiliation with President-elect Donald Trump.
Official Trump 15 min. candle chart. Supply: Buying and selling View
Launched simply two days earlier than his official inauguration, the TRUMP memecoin has seen an unprecedented rise in worth, reaching $12 billion in only a few days, or a market capitalization of $75 billion at a totally undervalued market capitalization. Ranked among the many prime 20 cryptocurrencies by Hat on the time of writing.
This has pushed the worth of Solana (SOL) to new all-time highs, particularly towards its arch rival Ether (ETH).
Associated: Allegations of insider buying and selling emerge as TRUMP memecoin floods Solana DEXs
This speedy development has considerably reshaped the crypto market panorama in a single day, with liquidity shifting away from different altcoins to this new memecoin.
Political Accountability Chain?
Memecoin’s itemizing on main exchanges like Binance and Coinbase has facilitated its meteoric rise by making it accessible to a wider viewers and contributing to its market cap development.
Supply: Arthur Hayes
Hayes additionally hinted at writing an article arguing that $TRUMP may deliver political accountability on-chain, utilizing memes, greed, seize, decentralized exchanges (DEXs) and free markets as instruments.
This means a deeper narrative the place memecoins can function a automobile for political expression and engagement, doubtlessly influencing how political figures talk with their supporters within the digital age. They discuss.
Hayes’ imaginative and prescient of $TRUMP not simply as a speculative asset, however as a automobile for political discourse, provides one other layer to the continued memecoin frenzy.
Associated: TRUMP memecoin jumps to prime 15 worldwide in 48 hours, fueling tax minimize rumors
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling enterprise includes danger, and readers ought to do their very own analysis when making a call.
