Once again, fantasy surpasses reality as far as Donald Trump is concerned. Two days before Trump is reinstated as president of the United States, he has launched a memecoin that in the market has been priced at 17 billion US dollars.
According to Trump's own X/Twitter account, this is an official memenoin for Trump. The official website also writes that Trump Memes should serve as a support for Trump and his ideals, but are not a financial investment. Trump and his sons also launched their own cryptocurrency last fall, World Liberty Finance, which is almost fully subscribed.
Memecoins are in many ways a cultural phenomenon within crypto and have grown to a market capitalization of over 120 billion USD. For some users, it simply reflects a fun crypto culture, while others are obviously launched as pump-and-dump coins. At the same time, some memencoins projects have changed character and along the way have been added a useful value. Memecoins have also been used to express political support or collect donations, something we have discussed in a previous article.
While one may question the value of the Trump Memes, the economic consequences in financial markets have already been huge. Just two hours after its launch in the United States on Friday night, its market capitalization had risen to US$8 billion, and then further to US$16-17 billion. Over 230,000 have invested in the memento coin and the trading volume has passed US$1.6 billion. On X/ Twitter, many also believe that the launch of the Trump coin is the direct reason why a long line of other memoins and AI agents have dropped significantly in value. As one X account writes: The Trump Meme has “sucked liquidity” out of the rest of the market.
As always with Donald Trump, it may be okay to make a stand on whether it's the politician or businessman Trump talking. Either way, there's little doubt that the launch, two days before Trump's inauguration, is timely, as Trump is expected to announce crypto-friendly initiatives on the first day of his second presidency.
The new Trump Memes website currently contains the following disclaimer:
'Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP” and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency. '
Once again, fantasy surpasses reality as far as Donald Trump is concerned. Two days before Trump is reinstated as president of the United States, he has launched a memecoin that in the market has been priced at 17 billion US dollars.
According to Trump's own X/Twitter account, this is an official memenoin for Trump. The official website also writes that Trump Memes should serve as a support for Trump and his ideals, but are not a financial investment. Trump and his sons also launched their own cryptocurrency last fall, World Liberty Finance, which is almost fully subscribed.
Memecoins are in many ways a cultural phenomenon within crypto and have grown to a market capitalization of over 120 billion USD. For some users, it simply reflects a fun crypto culture, while others are obviously launched as pump-and-dump coins. At the same time, some memencoins projects have changed character and along the way have been added a useful value. Memecoins have also been used to express political support or collect donations, something we have discussed in a previous article.
While one may question the value of the Trump Memes, the economic consequences in financial markets have already been huge. Just two hours after its launch in the United States on Friday night, its market capitalization had risen to US$8 billion, and then further to US$16-17 billion. Over 230,000 have invested in the memento coin and the trading volume has passed US$1.6 billion. On X/ Twitter, many also believe that the launch of the Trump coin is the direct reason why a long line of other memoins and AI agents have dropped significantly in value. As one X account writes: The Trump Meme has “sucked liquidity” out of the rest of the market.
As always with Donald Trump, it may be okay to make a stand on whether it's the politician or businessman Trump talking. Either way, there's little doubt that the launch, two days before Trump's inauguration, is timely, as Trump is expected to announce crypto-friendly initiatives on the first day of his second presidency.
The new Trump Memes website currently contains the following disclaimer:
'Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP” and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency. '
