Arthur Hayes says $TRUMP Meme Coin Marks a New Era in Political Crypto
- $TRUMP meme coin surged 609% in 24 hours, hitting a $6.1 billion market cap and becoming the 4th largest meme coin.
- Arthur Hayes called its tokenomics fugazi but predicted it could reach a $100 billion market cap, redefining political engagement through crypto.
- Supporters praise its boldness, while critics warn of speculative risks, urging cautious investments.
Donald Trumps meme coin, $TRUMP, has been the most trending cryptocurrency since its launch. Within 24 hours, the coin skyrocketed to more than 609%, with a market capitalization of $6.1 billion and positioning it as the 4th largest meme coin. The closer Trumps inauguration gets, the more people debate the relevance and long-term viability of the coin.
Arthur Hayes Take on $TRUMP meme coin
Arthur Hayes, former BitMEX CEO discussed the phenomenon which he labeled tokenomics fugazi. His positive perspective includes a predicted reach of market value to $100 billion from $TRUMP. This cryptocurrency is one measure of a modern era, for politicians now need to communicate in cryptocurrencies so they can stay updated with what each of their supports is thinking. He believes this kind of speculative project could promote crypto adoption across the political scene.
The $TRUMP is polarizing its response. Its supporters proclaim it bold, revolutionary, a unique mesh of politics, culture, and crypto. Critics say its questionable, warning speculative bubbles and inviting investors to tread lightly.
In its first two hours, $TRUMP had surged to more than 4,200%, as the coin currently trades at $30.52, which hit a peak of $32.61. It has traded more than $10.9 billion in volume over 24 hours as more and more people keep investing their interest. Its circulating supply stands at 200 million tokens out of a total of 1 billion. The rocketing rise had attracted the interest of the world market.
More Than Just a Cryptocurrency
For some, $TRUMP is a political statement and a new tool for public engagement, more than just a cryptocurrency. The dramatic acceleration of $TRUMP has been questioned in the media whether hype is only temporary or the coin has a future in long term influence crypto and politics.
Analysts believe interest in $TRUMP will be sustained, and price increases even when they do come will still be until the time of inauguration for Trump. The speculative nature of this coin, however should keep investors very careful. Be it a phenomenon here to stay or just another trend, this has already marked its place because it resculpted the intersection of cryptocurrency and politics.
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Read more: https://thenewscrypto.com/arthur-hayes-says-trump-meme-coin-marks-a-new-era-in-political-crypto/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
