Launching their new tokens, the Trump family could spark a surge in mainstream acceptance among ordinary investors for risky digital currencies like meme coins and lesser-known cryptos.
On January 18th, Trump’s advisory team introduced the memecoin known as TRUMP on the Solana network. The following day, they unveiled the MELANIA token. These digital assets were launched in the days leading up to President-elect Donald Trump’s inauguration on January 20th.
According to Anndy Lian, author and intergovernmental blockchain expert, the launch of these meme coins marks a significant turning point in the world of cryptocurrency.
The move will usher in a “new era for memecoins and altcoins,” Lian told CryptoMoon, adding:
“It’s fascinating to consider this as a revival of the ICO craze, amplified by significant market capital and global influence. This isn’t just another token launch; it’s backed by the kind of coordinated financial groups and celebrity endorsement that can drive market caps into the billions, showcasing a scale and impact not seen before in the memecoin sector.”
Despite much retail excitement, the Trump token dropped by more than 17% in the hours leading to 10:15 am UTC. The token had reached a high market capitalization of over $14.9 billion on January 19, but subsequently plummeted by about 27%, now standing at a market cap of $10.8 billion, according to CoinMarketCap data.
On January 19th, within just 40 minutes of Melania launching, the TRUMP token’s market value dropped by an astonishing $5 billion. This dramatic decline caused its price to plummet by 38%, from $74.6 down to $45.9.
A new era for political memecoins: CryptoQuant CEO
Besides other experts within the field, they too view the introduction of the Trump family’s memecoin as a unique and groundbreaking event for the cryptocurrency sector.
Significantly, according to Ki Young Ju, the founder and CEO of CryptoQuant, this development is expected to usher in a fresh chapter for investing in meme coins.
In his January 20th post, Ju stated that the fundamental truth behind financial markets acting similarly to internet memes is not disappearing.
“It’s worth considering how to make the most of it. With its decentralized nature, crypto is a fully global, unrestricted market, meaning even more meme-like assets will inevitably emerge.”
Ju stated that during the Trump administration’s tenure, there will be a shift towards unregulated market practices rather than controlled ones. Furthermore, it is expected that various trials involving cryptocurrency and user-generated content communities (like memes) may emerge over the next four years.
To put it simply, the debut of meme coins could indicate that investors might be shifting their focus towards other cryptocurrencies, specifically those not including Bitcoin (BTC) and Ethereum (ETH), also known as altcoins.
The memecoin’s triumph showcases the strong willingness among investors to take risks in pursuit of gains, as noted by Valentin Fournier, a researcher at Blockhead Network.
In a research note shared with CryptoMoon, he stated:
“Such moves indicate a potential rotation of capital from major assets to smaller, high-risk ones. Altcoins could outperform Bitcoin and Ethereum in the coming months.”
As a crypto investor, I can’t help but voice my concerns about recent events that some view as detrimental to our space. The allegations swirling around Trump’s team are quite serious, with many accusing them of masterminding a “pump and dump scheme” following the consecutive launches of memecoins. These digital coin launches have reportedly added billions of dollars to the net worth of the incoming US president and first lady, which raises eyebrows and fuels speculation in the crypto community.
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2025-01-20 14:40