Memecoins have surged in popularity after Donald Trump’s election, with celebrities and influencers driving massive hype.
Hawk Tuah Girl’s Memecoin Fails Amid Growing Hype
Haliey Welch’s coin, Hawk, skyrocketed to $490m but plummeted to $17m, sparking accusations of a “rug pull” from critics.
Memecoins Flood the Market
Memecoins, now worth $118bn, have flooded the market, with new tokens launching daily, despite experts warning they have no fundamental value.
Gambling Mentality Behind Memecoin Investments
Traders acknowledge that these types of coins are “pure gambling,” with some rising by up to 20,000% without any clear rationale or intrinsic value.
Memecoins Monetize the Attention Economy
Experts explain that memecoins reflect the crossover between social media trends and decentralized finance, monetizing the attention economy.
Trump’s Influence on the Crypto Boom
The boom in these coins and cryptocurrencies is linked to Trump’s victory, with the market doubling in value after his win and Bitcoin hitting new heights.
Elon Musk and the Power of Memecoin Endorsement
Elon Musk’s backing of Dogecoin, the first memecoin, helped it reach a $60bn market cap, despite its limited use in transactions.
Crypto Hype Reignites Under Trump’s Administration
Experts say Trump’s pro-crypto stance has fueled a new wave of hype, though the fundamentals of memecoins remain unchanged.
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