#TrumpCoin Market Cap Surpasses Dogecoin#
Hot Topic Overview
Overview
Trump's official Solana meme coin, TRUMP, has surpassed $7 billion in on-chain trading volume in the 24 hours since its launch, exceeding the total trading volume of Ethereum and all its L2s. Its market capitalization has also surpassed Dogecoin. The launch of the coin has triggered a market frenzy, with its price surging 529 times at one point and creating 528 millionaires. Many cryptocurrency trading platforms have launched TRUMP spot trading and launched related activities. Bybit CEO BEN said that the future will focus on building Onchain Bybit to cope with the rapid development of on-chain trading. However, some have expressed concerns about the issuance of TRUMP, believing that it is highly speculative and could harm investors.
Ace Hot Topic Analysis
Analysis
Trump's meme coin TRUMP has sparked a crypto market frenzy since its launch, quickly surpassing Dogecoin in market cap and becoming the hottest topic recently. TRUMP's on-chain transaction volume exceeded $7 billion in 24 hours, surpassing the total transaction volume of Ethereum and all its L2s. Its price has also hit a new all-time high, potentially increasing Trump's net worth by 5 times. Some analysts believe that TRUMP's success is due to factors such as Trump's personal brand effect, celebrity effect, topicality, market positioning, fan economy, narrative ability, market timing, policy expectations, innovative marketing, and community strength. Dogecoin, on the other hand, faces challenges such as losing its core driving force, intense competition, technological stagnation, dispersed user base, weakening celebrity support, market saturation, brand aging, lack of narrative, community division, and reliance on a single influence. The launch of TRUMP has also sparked a focus on the on-chain ecosystem in the crypto industry, with exchanges like Bybit pledging increased investment in the on-chain ecosystem. Some experts have also criticized the launch of TRUMP, arguing that it is predatory and could harm investor interests. However, overall, the launch of TRUMP is a positive signal for the crypto industry, indicating the potential and future direction of cryptocurrency.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The launch of TrumpCoin is a combination of politics and finance, attracting supporters of Trump and conservative investors.
The launch of TrumpCoin leverages the strong liquidity of market funds, triggering FOMO (fear of missing out) sentiment.
The launch of TrumpCoin may bring the potential expectation of "government endorsement", as the possibility of Trump being elected president for a second term increases.
The launch of TrumpCoin is a combination of celebrity effect and fan economy, attracting a lot of attention and investment.