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- Binance’s CZ dismisses hypothesis about making a meme coin tied to his identify.
- The TRUMP token skyrockets to a $75 billion market cap, pushed by social media hype.
- Melania Trump launches her personal coin, MELANIA, including to the meme coin frenzy.
Former Binance CEO Changpeng Zhao (CZ) has addressed rumors about making a meme coin tied to his identify. This comes following the meteoric rise of the TRUMP meme coin, which reached a staggering $75 billion absolutely diluted valuation (FDV) simply at some point after launch.
Taking to X (previously Twitter), CZ humorously denied any plans to launch a meme coin. He quipped that “a number of different nation leaders is perhaps contemplating it,” given the benefit with which TRUMP achieved its $75 billion cap.
TRUMP Token’s Market Exercise Reaches New Heights
The TRUMP token has seen a 25% improve over the previous 24 hours after it retraced from its all-time excessive of $75.5 earlier than settling at $58.3. The token’s 24-hour buying and selling quantity has skyrocketed to $52.8 billion—marking a 348% improve. Notably, it has a circulating provide of 200 million tokens and a complete provide of 999.99 million.
Since its launch on January 18, the TRUMP token has surged over 41,000%, climbing from a gap worth of $0.18 to a peak of $75, making it one of the vital explosive meme coin launches in current historical past.
Nonetheless, its buying and selling volume-to-market cap ratio of 435.79% highlights the speculative nature of the token, elevating considerations about market stability and sustainability. CZ’s feedback highlight the speculative nature of meme cash, which are sometimes fueled by social media hype and market pleasure fairly than tangible utility or technological innovation.
The TRUMP token isn’t any exception, as its fast rise is related to the workplace of the U.S. President fairly than elementary worth.
Melania Trump Joins Meme Coin Frenzy
Including to the frenzy of the incoming US president launching a coin, his spouse, Melania Trump, has adopted the lead by launching her coin. In a publish on X yesterday, Melania introduced the launch of MELANIA, inflicting a short lived dipping within the worth of TRUMP earlier than it rebounded.
Nonetheless, like Binance CZ, distinguished market figures similar to James Stephen, aka MrBeast, probably the most adopted YouTuber, have declined to launch a meme coin regardless of stress from neighborhood members.
Total, the TRUMP token’s market exercise highlights the continuing fascination with meme cash and their capability to draw vital liquidity regardless of their inherent dangers.
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