Among the wide range of positive news coming from the cryptocurrency community, as Donald Trump prepares to take the presidential seat on January 20, one development that has the community particularly excited is the release of Trump Coin.
Donald J. Trump officially tweeted about this token through his official account, and since its launch, the price of the token has increased by more than 8000%. Is this new TRUMP Solana meme the best cryptocurrency to buy right now?
What is Trump?
Trump is the latest in a long line of Trump-themed coins. However, the difference is that this meme coin has been officially released Released By Donald Trump himself. Developed on the Solana blockchain, this coin is Trump’s only official currency, and will give users access to the Trump community.
The release of this meme coin marks the upcoming inauguration of Donald Trump as President of the United States. However, the official website also reveals that the theme of this symbol is also to commemorate the attempted assassination of President Trump on July 13, 2024.
With this token, the official website says users own a piece of history and join the Patriots community.
Trump price action has been very positive and people are coming in large numbers to invest in this cryptocurrency. The meme token crossed the $4 billion market cap within hours of its launch and is currently trading around the $24 level.
A look at TRUMP Tokenomics
200 million TRUMP tokens are available at launch and will grow to 1 billion tokens over the next three years. Each time codes are released, customizations will be revealed. Regarding the use cases, nothing has been highlighted through the official website.
However, it is clear that this symbol was designed as a social movement and not as a profit-generating tool.
Is Trump a good investment?
The timing of Trump’s release makes it a suitable investment for many reasons.
First, this release comes shortly after Trump plans to create strategic reserves of tokens created on US soil, such as Solana and USDC. So, at least in the short term, this news will fuel its growth.
However, in the long term, investors should keep a close eye on new use cases that develop across the Trump ecosystem. The issuance of these tokens over the next three years will also reveal allocations, meaning more tangible assets may be coming into its ecosystem. This may make Trump a suitable long-term investment as well.
Furthermore, TRUMP is part of the Solana ecosystem, which means it contains the meta narrative of the Solana meme coin, which could boost its value even higher. It is possible that Trump can create another meme craze and become one of the top meme coins on the market. However, the market remains volatile, and not much can be said about Trump’s future since the token has just been launched.
Additionally, although the value of the Trump Coin rose more than 10,000% within hours of its launch, the token is clearly highly overvalued. Therefore, investors should diversify their investments further by choosing other cryptocurrencies as well.
However, things are not all well with this cryptocurrency. Critics have recently pointed out with bubble maps that 80% of the total supply is in a single wallet.
However, things are not all well with this cryptocurrency. Critics have recently done so He pointed out With bubble charts, 80% of the total supply is held in one wallet, indicating the possibility of a rug being pulled out.
While this may be a cause for concern for many, some who have commented on this issue have also pointed out that the tokens are locked for 36 months.
New Meme currency alternatives to invest in
The following two meme coins can be considered suitable choices to buy alongside TRUMP tokens, especially since TRUMP is already one of the top four meme coins by market cap.
Solaxy
While Trump exploits the popularity of Solana and Trump, Solaxy It generates buzz across the cryptocurrency space through its simple utility.
Solaxy is designed to provide a layer 2 solution for the Solana blockchain, and aims to make the existing Solana blockchain more diverse. Its goal is to enhance Solana’s efficiency by enabling off-chain transactions, ensuring no more downtime and achieving improved scalability.
However, Solaxy’s recent popularity among the top pre-sales meme coins on our “Best Cryptocurrencies to Buy Now” list is also due to the Pepe Einstein meme, which introduced a unique fun factor to the ecosystem. With over $11 million raised to date, Solaxy has the potential to become another explosive asset once the pre-sale ends.
For more details, visit the official website.
Visit Solaxy
Meme indicator
Since diversification is the key to making profits from the meme economy, meme indices are starting to gain traction. However, in its current centralized form it has proven to be less than optimal. That’s why Meme Index offers a different solution. It is touted as the world’s first decentralized cryptocurrency index, Meme indicator It is a powerful cryptocurrency project that features community-managed indices.
Investors who hold the ecosystem’s main token, MEMEX, can participate in the Meme Index DAO. They can vote to decide which currencies will be added or removed from the indices. This new approach to index rebalancing is another reason why this token has been added to many “Best Cryptocurrencies to Buy” lists, including those of publications like Blockchain News.
Meme Index also gives users access to four indexes for different types of volatility. These range from the Meme Titan Index, with tokens that are relatively stable in terms of price action, to the Meme Frenzy Index, featuring assets that can disappear within a day of their activity. This comprehensive approach has allowed Meme Index to raise over $2.5 million to date.
The project has also caught the attention of leading experts such as Michael Froebel.
This project is a suitable choice for those looking for coins with a utility-focused touch.
Visit Meme Index
