Trump’s Cryptocurrency’s Rapid Flips
Trump’s cryptocurrency initially saw a dramatic surge in its market cap, reaching $73 billion within 48 hours of its launch, overtaking Dogecoin as the largest meme coin. However, its market cap fell to $7.3 billion shortly after the surge, while Melania Trump’s coin was trading at a market cap of $732 million, illustrating the market’s extreme volatility.
Potential Market Impact: My Take
Trump’s launch of a meme coin, emphasizing that this is a radical shift in how the United States and the rest of the world deal with cryptocurrencies. The launch of a meme coin by a major political figure like Trump marks the beginning of a “new regulatory era” in the world of cryptocurrencies, signaling a change in the way governments interact with the technology.
As for Bitcoin, I would expect it to reach $170,000 this year, after the currency saw a significant surge following the US election. Bitcoin is currently trading at around $103,000, reflecting the bullish trend that cryptocurrencies are witnessing.