Trump’s $TRUMP Meme Coin Launch
President Trump has launched a new meme coin, $TRUMP, on the Solana blockchain. Initially suspected to be fake news or a hack, the coin was later confirmed to be officially released. Within four hours, it surged 4,000%, reaching $8 per coin, and later surpassed $30, bringing its market capitalization over $5 billion. After hitting a peak of $74, the price crashed and is currently trading at $38.
Such extreme price fluctuations are common in the cryptocurrency market. The meme coin frenzy is nothing new, as similar patterns have occurred with Dogecoin and other altcoins. However, early investors typically capture most of the profits, while latecomers either earn smaller returns or face losses. This phenomenon creates an extreme survivor bias, where success stories are widely publicized, but failures are overlooked.
Meme Coins: Speculation vs. Investment
Many investors have suffered losses in the crypto market, but most recognize it as a form of gambling rather than traditional investing. Meme coins resemble a lottery system, where high risks accompany speculative opportunities. Unlike in 2021, established elites are now directly engaging with crypto, and the launch of $TRUMP reflects this growing trend.
Legendary short-seller Jim Chanos warned that "the golden age of fraud" is approaching following the launch of $TRUMP. However, this issue is not unique to Trump. In fact, congressional insider trading may pose a greater ethical problem. At least meme coins openly acknowledge their speculative nature, whereas some politicians profit from non-public information in secrecy.
The Rise of the Attention Economy
The meme coin surge reflects a shifting economic paradigm. In the past, education and traditional careers were primary means of wealth accumulation. Today, "attention" has become the new currency. As people spend more time online, the ability to monetize attention has become a key determinant of economic value. Trump is one of the most adept figures in leveraging attention, and his meme coin serves as an extreme example of financializing public interest.
While meme coin trading may yield short-term gains, long-term wealth requires creating real value. Instead of chasing quick profits, developing technical skills and expertise remains the most reliable path to sustainable financial success. Rather than following fleeting trends, individuals should focus on building assets with lasting value.
[Compliance Note]
All posts by Sellsmart are for informational purposes only. Final investment decisions should be made with careful judgment and at the investor’s own risk.
The content of this post may be inaccurate, and any profits or losses resulting from trades are solely the responsibility of the investor.
Core16 may hold positions in the stocks mentioned in this post and may buy or sell them at any time.
