The Breakdown The Trump Crypto Era Begins with a Surprise Memecoin
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Jan 22, 2025 The crypto community is buzzing over the unexpected launch of a Trump-themed memecoin. With its explosive entrance on the Solana blockchain, the coin sparked both frenzy and infrastructure challenges. Experts weigh in on how a presidential association can shift the dynamics of cryptocurrency. The discussion delves into the unique tokenomics and the surreal atmosphere, echoing past crypto crazes. Reactions vary from excitement to skepticism, raising questions about the ethical and legal implications in the evolving crypto landscape.
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Trump Meme Coin Launch
- Trump launched a meme coin on Solana, endorsed by him, reaching a $9B fully diluted valuation within 3 hours.
- It peaked at $75B, causing Solana's price to surge 30% and other cryptocurrencies to dump.
Trump Coin Tokenomics
- The Trump meme coin had only 10% of its supply available to the public, with 80% reserved for creators and CIC Digital.
- This distorted the fully diluted valuation, with the actual circulating market cap closer to $15 billion.
Negative Industry Perception
- Nick Carter called Trump's meme coin launch "preposterous", highlighting the negative image it projected for the crypto industry.
- An unnamed crypto lobbyist agreed, expressing concern about reinforcing the perception of crypto as scams.