Political Memecoin Market

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Arthur Hayes, co-founder of BitMEX, has once again sparked conversation throughout the cryptocurrency world, particularly due to his comments surrounding the recent launch of the Donald Trump meme coin. Significantly, he referred to the TRUMP token’s debut as the inception of a “political memecoin market.” This has led investors to closely watch the new token, as its rapid growth following the launch helped it climb to the 4th position in terms of global meme coins’ total market capitalization.

BitMEX’s Arthur Hayes Sparks Buzz With “Political Memecoin Market” Comment

On January 18th, Arthur Hayes echoed the statement made by the 47th U.S. President regarding the TRUMP token, stating, “This marks the beginning of the political meme coin market.” Moreover, the American co-founder continues to express that any politician who is open to understanding public opinion in real-time will introduce their own meme coin.

As a crypto investor, I find myself standing at the threshold of a fresh chapter in the realm of cryptocurrencies – the ‘political memecoin’ segment. However, the words of analysts like Hayes make me question the authenticity of these tokens, as he deems their economic models as dubious, or “fugazi.” Yet, amidst the current market trends and with the launch of a new meme token on Solana, there’s a buzz in the air that these coins could potentially reach a staggering $100 billion market cap. Overall, this news surrounding a new meme coin has caused quite a stir within the crypto industry.

TRUMP Token: Talk Of The Crypto Town

In an unexpected twist, newly elected President Donald Trump unveiled the TRUMP Meme Coin, a digital currency based on Solana. Immediately upon its entry into the world of cryptocurrencies, it has secured the fourth position, with Pepe Coin following closely behind in terms of market value.

Significantly, CoinGape stated that the newly debuted token helped traders amass millions in a single day of its release. Furthermore, there has been a steady increase in accumulation for this token, suggesting potential further price increases. Additionally, optimism about the future of the new Solana meme crypto remains extremely positive following Donald Trump’s upcoming presidential inauguration on January 20th.

It’s noteworthy to mention that Binance temporarily halted Solana withdrawals during the release of the new token on their network, causing a flurry of debate about its growing popularity in the crypto market. At the time of this article, TRUMP, an official cryptocurrency, was traded at $22.15, marking a remarkable 241% increase within a single day. The cryptocurrency’s lowest and highest points over the past 24 hours were $6.24 and $24.50 respectively. In summary, Arthur Hayes’ prediction about a “politically-influenced memecoin market” might hold weight, given the increasing influence of the newly endorsed Republican coin within the broader sector.

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2025-01-18 15:05