- Binance CZ rejects hypothesis in regards to the creation of a meme coin related along with his identify.
- TRUMP token skyrockets to $75 billion, fueled by social media hype.
- Including to the meme coin craze, Melania Trump is launching her personal MELANIA coin.
Former CEO of Binance Changpeng Zhao (CZ) addressed rumors in regards to the creation of a meme coin related along with his identify. This follows the meteoric rise of the TRUMP meme coin, which reached a staggering $75 billion totally diluted valuation (FDV) simply sooner or later after launch.
With regard to X (previously Twitter), CZ has jokingly denied any plans to launch a meme coin. He joked that βa number of different heads of state could be contemplating it,β given the convenience with which TRUMP reached his $75 billion restrict.
TRUMP Token market exercise reaches new heights
The TRUMP token has seen a 25% improve within the final 24 hours after getting back from its all-time excessive of $75.5 earlier than settling at $58.3. Buying and selling quantity for the token skyrocketed to $52.8 billion in 24 hours, a rise of 348%. Notably, it has a circulating provide of 200 million tokens and a complete provide of 999.99 million.
Since its launch on January 18th, the TRUMP token has climbed over 41,000%, climbing from a gap worth of $0.18 to a peak of $75, making it one of the vital explosive meme coin launches in latest historical past.
Nonetheless, its buying and selling quantity to market capitalization ratio of 435.79% highlights the token's speculative nature and raises considerations about market stability and sustainability. CZ's feedback spotlight the speculative nature of meme cash, which are sometimes pushed by social media hype and market pleasure fairly than tangible utility or technological innovation.
The TRUMP token, whose fast rise is related to the workplace of the US president, is not any exception fairly than a core worth.
Melania Trump Joins the Meme Coin Frenzy
His spouse Melania Trump joined the coin-launching frenzy of the incoming US president, who adopted her coin. In a submit on X yesterday, Melania introduced the launch of MELANIA, inflicting the TRUMP worth to drop quickly earlier than rebounding.
Nonetheless, like Binance CZ, outstanding market figures corresponding to James Stephen, aka MrBeast, essentially the most watched YouTuber, refused to launch the meme coin regardless of stress from neighborhood members.
Total, TRUMP token exercise out there highlights the continued fascination with meme cash and their capacity to draw vital liquidity regardless of their inherent dangers.
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