Bitcoin is riding high with its recent surge that led to it moving past its ATH level. However, the same cannot be said about the Official Trump Meme Coin.
This presidential meme coin, which after launch arguably became the fastest token to reach new highs, hasn’t seen much action lately. The recent presidential dinner given to the highest investors of this presidential meme coin didn’t do much for its price. The value is currently consolidated between $10 – $15.
Why is it that the meme coin officially launched by the biggest political figure right now hasn’t seen much action? Is the Official Trump Meme Coin dead?
Official Trump Meme Coin Price History
The Official Trump Meme Coin launched at the beginning of the year, three days before Donald Trump officially entered the Oval Office. The release was met with major fanfare, with the TRUMP price officially breaking all market fundamentals to reach new highs. At one point, it reached a market capitalization of $14.5 billion.
This necessarily translated to it becoming the second-biggest meme coin by market capitalization for a while. However, the Trump fever within the political arena didn’t last in the blockchain space, as profit-takers rushed to sell the tokens.
Trump himself drew massive criticism for the project, with many saying it highlights the blatant corruption inside the presidential suite. Official Trump Meme Coin’s tokenomics is also subject to major criticism, with only 20% of the total supply being available to the public during launch.
Months after the launch, new meme coins emerged, and Donald Trump’s political moves created massive volatile situations, impacting the Bitcoin price. However, none of that impacted the Official Trump Meme Coin to a higher degree.
Macro-analysis of the price chart shows that the meme coin has only surged by over 5.9% in a month. This is unprecedentedly low for a meme coin whose virality bordered on “legendary” at the time of launch. At the time of writing, the meme coin is trading around the $12.8 level and has a market capitalization of just $2.56 billion.
The only reasons the token has maintained its position as the fourth-biggest meme coin by market capitalization could be attributed to:
It is built on the Solana blockchain and thus has successfully capitalized on the Solana narrative.
It is a presidential token. And as a PolitiFi asset, it is possible that many whales are still holding coins in order to gain favor from President Trump.
Is the Official Trump Meme Coin Dead?
Given that the Official Trump Meme Coin is the fourth-biggest meme coin by market capitalization and its market cap is still above $2 billion, it is safe to say that the token isn’t dead.
However, its price action has now stagnated.
CoinMarketCap shows that the sentiment around this token is nowhere nearly as bullish as it was days ago, and there has not been a lot of buzz about it on social media lately.
Is Trump-driven crypto fatigue to blame for this? Not really.
However, it is likely that another Trump-parallel token, WLFI, is attracting most of the attention.
Furthermore, the recent $148 million meme coin dinner has also attracted a lot of attention. So, overall, the meme coin isn’t dead, but the meme-like action around the token might be. Therefore, attention should be put on meme coin presales with immense viral potential.
BTC Bull – Bitcoin-Inspired Meme Coin with Explosive Potential
Since the price action that the Official Trump Meme Coin experienced during the initial days has now subsided, investors are flocking toward other meme coin presales, such as BTC Bull.
BTC Bull is a meme coin project inspired by Bitcoin in more than just name. Not only does the meme coin portray a bullish image for Bitcoin, but it also has mechanics that could help it grow in value to a massive degree following Bitcoin’s growth.
These mechanics include Bitcoin airdrops and token burns, which will trigger whenever Bitcoin hits a new milestone.
At the first milestone, which is $125K, BTC Bull will burn a certain portion of its supply, and when BTC hits the second milestone—$150K—a Bitcoin airdrop will begin.
The goal is to establish these milestones and continue them until Bitcoin reaches the $250K mark.
With over $6 million raised at the time of writing, BTC Bull is already forging ahead as one of the most successful presales on the market.
The mood around BTC Bull is also bullish, which is why analysts like 99Bitcoins have also talked positively about this project, stating that it could have a 100x potential.
Overall, there is anticipation that BTC Bull’s price action could mirror Official Trump Meme Coin’s initial landing on the market. A combination of viral imagery and unique mechanics could successfully help boost its value, making it a better alternative to the Official Trump Meme Coin.
Visit BTC Bull Presale
This article has been provided by one of our commercial partners and does not reflect Cryptonomist’s opinion. Please be aware our commercial partners may use affiliate programs to generate revenues through the links on this article.
