Over the weekend, a large amount of funds flowed into the topic of Trump’s inauguration. First, there was the official meme coin “TRUMP” issued by Trump, which created another myth in the coin world within a short 24 hours. The price directly increased up to 150 times from the issuance price, and the Market Cap once soared to over 10 billion US dollars. Investors who bought Trump meme coin made substantial profits. Interestingly, in the early morning today, Melania, Trump’s wife, also announced the issuance of her own meme coin “MELANIA”, which subsequently led to a big dump of 50% in the price of Trump meme coin.
The crypto coin community is still confirming whether the issuance of the ‘MELANIA’ meme coin is the work of hackers, because it is not normal to have two meme coins with the same issuance theme. However, it is surprising that Trump himself has issued a meme coin, and it seems quite normal for other meme coins with similar themes to appear. The coin’s price once soared to $0.67, an astonishing 170 times increase, but soon fell to $0.12, a convergence of about 2 times increase.
“Trump-themed” obviously went beyond rationality before taking office. The entire market was betting on a comprehensive relaxation of crypto coins after Trump took office. However, we believe that the market’s expectations are too high. As long as there is any “less than ideal” aspect in the news these days, even without announcing any regulatory policies, as long as Trump does not make “very positive” remarks about crypto coins after taking office, it may trigger a fall. We believe that the market has shown a short-term overheating phenomenon, and investors should pay more attention to risk management.
Disclaimer: The article represents only the author’s personal opinions and does not represent the views and positions of the blockchain client. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and trades, and the author and the blockchain client will not be held responsible for any direct or indirect losses incurred by investors.
<MICA Daily | “Trump topic” beyond rational range, short-term overheating phenomenon in the market> This article was first published in “Block Tempo”.
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