#Trump Meme Coin Trading Volume Surpasses $7 Billion#
Hot Topic Overview
Overview
Trump's meme coin "TRUMP" quickly became a hot topic after its release, with trading volume exceeding $7 billion and market capitalization reaching $20 billion at one point. The coin's launch triggered significant fluctuations in the crypto market, with SOL prices surging while ETH declined, prompting multiple whales to sell ETH and invest in SOL and TRUMP. Many believe that Trump's entry will bring a massive incremental market and capital inflow to the crypto market, driving new users into the space. However, others argue that the launch of TRUMP could be a modern tulip mania, ultimately ending in a bubble burst.
Ace Hot Topic Analysis
Analysis
Trump Meme coin trading volume has surpassed $7 billion, sparking a frenzy in the crypto market. The coin reached a multi-billion dollar market cap within hours of its launch and quickly became the fourth-largest meme coin. Many believe this is an endorsement of cryptocurrency from Trump and that it will bring a massive incremental market and capital inflow to the entire crypto market. However, many are cautious, believing it to be a modern tulip mania that will ultimately end in a bubble burst. Additionally, 80% of the coin's supply is controlled by the team, and a 1% tax is levied on every transaction, raising questions about whether the coin is a scam. Nonetheless, the emergence of Trump Meme coin has undoubtedly injected new vitality into the crypto market and sparked reflection on the future direction of the crypto market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump's coin issuance is a positive for the crypto industry, bringing in more capital and new users.
Trump's coin issuance is a new gameplay, turning limited PvP into unlimited PvE and changing the rules of the game.
Pure Meme coins and large VC coins with strong deposit and withdrawal channels will benefit from Trump's coin issuance event.
The Trump coin issuance event indicates that the market is in a modern tulip mania, which may become crazy in the coming months and eventually end in a bubble burst.