TRUMP Memecoin Soars 269%: How Donald Trump Is Shaping the Crypto Landscape?
Donald Trump is expected to have a significant influence on the cryptocurrency industry in addition to politics. The US president recently declared the launch of Official Trump, a Solana-based meme coin. The unexpected decision created a stir in the cryptocurrency community, and the TRUMP token, which was valued at billions of dollars within the first few hours of its creation, transformed the meme coin landscape.
According to data from the memecoin trading site Moonshot, Trump’s memecoin, Official Trump (TRUMP), started on January 17 and has since soared by 269.30%, hitting $74.32 at the time of publication. The project has been controversial, though, and although some experts doubt its legitimacy, Trump’s proposal might be ushering in a new age in the cryptocurrency industry.
Swyftx Analyst: TRUMP Token Could Preview Four Years of Crypto Boom
According to Pav Hundal, head analyst at cryptocurrency exchange Swyftx, the TRUMP meme coin‘s positive reception thus far is encouraging and provides the industry with a preview of what could transpire during the next four years of the president’s administration.
No-one wants to hear from the bears right now. Trump 2.0 is already a sugar rush and he hasn’t even started his Presidency yet. Solana has just obliterated its previous 24hr decentralised exchange volumes off the back of a Trump meme coin. It’s astonishing.
Hundal
Additionally, Solana’s native token surged following the memecoin introduction, reaching an all-time high of $270. Even if the TRUMP meme coin has demonstrated how rapidly and high demand for cryptocurrencies can rise, Hundal stated that the long-term atmosphere that Trump’s presidency produces will determine its true value.
Here we are on the verge of sensible regulation,
Hundal
Others, however, contend that even while the TRUMP token has drawn many new cryptocurrency users, it may eventually hurt the sector.
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