Believe it or not, the President-elect of the United States launched his own memecoin called $TRUMP, and it’s been causing quite a stir in the crypto world. The coin’s market cap skyrocketed to tens of billions within hours of launching. This is not a hack or a joke – it’s the real deal, backed by Trump and his team.
Here’s what you need to know about the dynamics of this new meme coin $TRUMP, its tokenomics and its potential effects on the market.
What is President Trump’s Meme Coin $TRUMP?
President Trump’s decision to launch his own meme coin, known simply as $TRUMP, has achieved a market cap of $70 billion within a day, and has been compared to the GameStop phenomenon where retail investors drove the price of GME stocks to unprecedented highs.
Could this be an event that is attracting billions of new users into crypto?
$TRUMP’s Tokenomics
To be exact, the new memecoin $TRUMP, sure is a memecoin, but there are some concerns about $TRUMP’s token allocation, with the onchain evidence that the team is holding a large chunk of supply. Which goes directly into the ethos of memecoins that are meant to be community-driven and fully unlocked.
How Did the Market React to the $TRUMP Coin Launch?
Initially, the $TRUMP coin saw a rapid increase in value, jumping from a market cap of $300 million to $2.5 billion in a short period. This surge in value caused a significant shift in liquidity within the crypto market, with many investors reallocating their investments to this new coin, in their blaze of FOMO.
With all these transaction, there was a network congestion on Solana, a blockchain that is famed for its association with meme coins and known for a faster processing of transactions at lower costs.
Is the $TRUMP memecoin Signalling the Crypto Top?
Despite what some might say, the $TRUMP launch is absolutely NOT bearish for crypto and memecoins. In fact, it could be the catalyst for a massive retail-driven memecoin mania, similar to the GameStop stock frenzy in early 2021.
The $TRUMP launch will likely play out the same way, bringing a flood of new buyers into the memecoin space, particularly on the Solana blockchain and could thus be incredibly bullish for other Solana memecoins.
What Can You do and Make Money on the $TRUMP Coin?
1. How can investors benefit from $TRUMP coin dips?
Investors looking to capitalize on the $TRUMP coin have opportunities to buy during dips. Since the coin has garnered significant mindshare and continues to attract interest, buying during a price drop could be interesting. You can buy $TRUMP on Bybit and MEXC. Although you need to know that the music stops sooner than later…
2. What does going delta neutral mean in this context?
Investors can adopt a delta neutral strategy by holding $TRUMP coin while simultaneously shorting an equivalent amount in futures. This approach helps manage risk by balancing positive and negative movements in the market, allowing investors to earn from funding rates.
3. Trade the Volatility
Trading volatility involves capitalizing on market fluctuations to maximize profits. One effective approach is to set alerts on the wallets of successful traders or influential entities, such as the Trump-backed Protocol, which actively purchases during dips. Or you can learn how to TA with the YCL TA Course by PEPE.
Conclusion
Love him or hate him, Trump’s $TRUMP coin is here to make memecoins great again. Don’t get caught up in the short-term drama and FUD. Take a step back and think about what it means to have the President shilling a memecoin. We’re in uncharted waters here, folks.
Expect volatility, craziness, and some juicy opportunities in the weeks ahead. Trade safe and have fun!
The post The Trumpfolio: The Real Donald Trump Memecoin $TRUMP appeared first on YourCryptoLibrary.