A weekly increase of nearly 1000%! Trump and the "King of Retail Investors" jointly promote meme coins

#Meme幣 Compared with the tepid performance of Bitcoin, the meme coin sector has emerged in recent days with a significant rise. According to CoinGecko data, the market value of the meme coin category has exceeded US$57 billion, with a daily increase of 9.3%. Among them, the meme sector related to the US election and the meme coins related to the "King of US Retail Investors" have particularly prominent growth. Trump's concept coin TRUMP has continued to rise recently, breaking through US$10, with a 24-hour increase of 29.7%.

"Meme coins that lack actual support may have price bubbles, and once market sentiment changes, prices may fall rapidly." Gao Zelong, a digital economist and deputy director of the Beijing Consensus Blockchain Research Institute, told a reporter from the China Times that the price of meme coins is susceptible to speculation, market sentiment and breaking news events, and is highly volatile. In addition, with the attention of regulators, meme coins may face the risk of stricter regulation or even a ban on trading.

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