BitMEX’s Arthur Hayes has once again caused a stir across the cryptocurrency landscape, primarily with his statements amid the new Donald Trump meme coin launch. Notably, the BitMEX co-founder spotlighted the TRUMP token launch, calling it the start of a “political memecoin market.” As a result, market participants are now thoroughly monitoring the newly launched token, as its remarkable growth promptly post-launch aided it in securing the 4th spot in terms of global meme coins’ market cap.
BitMEX’s Arthur Hayes Sparks Buzz With “Political Memecoin Market” Comment
In an X post dated January 18, Arthur Hayes reiterated the 47th U.S. president’s TRUMP token announcement, saying, “This is the launch of the political memecoin market.” Further, the American co-founder goes on to add, “any politician who isn’t afraid of knowing what the people think in real-time will launch their own memecoin.”
These statements underscore the beginning of a new era and segment of cryptocurrencies, ‘political memecoin.’ However, Hayes says that “these tokenomics are fugazi,” hinting that these coins may be extremely unreliable. But, the chances of these coins hitting a $100 billion market cap prevail amid the current market trends, per the BitMEX co-founder. Overall, these statements amid the launch of a new meme token on Solana have gained significant traction across the crypto industry.
TRUMP Token: Talk Of The Crypto Town
In a riveting turn of events, President-elect Donald Trump recently announced the launch of TRUMP meme coin, a token on Solana. Promptly after its inception into the crypto realm, the token has claimed 4th rank, standing right after Pepe Coin in terms of market cap.
Notably, CoinGape reported that the newly launched token even aided traders in making millions within a day of its launch. Also, accumulations for the same have been on a constant spike, indicating that further price gains for the token may be imminent. Moreover, in light of Donald Trump’s presidential inauguration, which is set to take place on January 20, market sentiments surrounding the new Solana meme crypto’s future action remain highly bullish.
It’s also worth mentioning that Binance had to suspend SOL withdrawals amid the new token’s launch on the network, which further sparked market discussions over the coin’s rising popularity. At the time of reporting, the Official TRUMP crypto exchanged hands at $22.15, witnessing a staggering 241% uptick intraday. The cryptocurrency’s 24-hour low and high were $6.24 and $24.50, respectively. In conclusion, Arthur Hayes’ statements on a “political memecoin market’ may be true, as seen by the new Republican-backed coin’s recent rising dominance across the broader sector.
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