With Trump’s inauguration over the horizon, Politi-Fi coins are back on traders’ radars.
Background
- TRUMP and MELANIA have quickly sprung up to become the third and eighth largest memecoins
- The former has managed to overshadow the likes of Pepe, Bonk, and Fartcoin on the rankings front, while the latter has flipped ai16z and MOG
Why should you pay attention?
- The TRUMP/USDT pair has become the most-traded pair over the past 24-hours on Binance, representing 11.96% of the total exchange volume, overshadowing BTC, SOL, ETH, and USDC
- The Solana network did experience network congestion briefly, with no transactions reported for around half-an-hour during peak trading
Who said what?
- Traders have been encashing on the ongoing price action
- According to on-chain tracker Lookonchain,
“Someone created 2 wallets to buy MELANIA and made $47.5 million!”
- Ki Young Ju, the founder and CEO of CryptoQuant, asserted,
"The underlying reality of financial markets behaving like memes isn’t going away”
- He added,
“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”
- He further went on to highlight that the Trump administration has embraced “free markets” instead of regulated markets
- Over the next four years, we’ll likely get to see “all kinds of experiments” with meme-driven communities in the crypto, according to the executive
