• Binance’s CZ dismissed hypothesis concerning the creation of a meme coin related together with his identify.
• The TRUMP token has skyrocketed to a market cap of $75 billion attributable to social media hype.
• Melania Trump launched her personal coin, MELANIA, additional fueling the meme coin craze.

Former Binance CEO Changpeng Zhao (CZ) addressed rumors about making a meme coin named after him. This follows the meteoric rise of the TRUMP meme coin, which reached a formidable totally diluted valuation (FDV) of $75 billion in simply someday after its launch.

CZ humorously denied plans to launch a meme coin to X (ex-Twitter). He quipped that given how simply President Trump achieved the $75 billion cap, “just a few different international locations’ leaders could also be contemplating it as properly.”

TRUMP token market exercise reaches new heights

The TRUMP token rose 25% up to now 24 hours to settle at $58.3 after pulling again from its all-time excessive of $75.5. The token’s 24-hour buying and selling quantity surged to $52.8 billion, a rise of 348%. Particularly, the circulating provide is 200 million tokens, and the whole provide is 999.99 million tokens.

Since its launch on January 18th, the TRUMP token has soared over 41,000%, rising from a gap worth of $0.18 to a excessive of $75, making it one of the crucial explosive meme coin launches in current historical past. .

Nevertheless, its volume-to-market capitalization ratio of 435.79% highlights the speculative nature of this token, elevating issues about market stability and sustainability. CZ’s feedback centered on the speculative nature of meme cash, which are sometimes pushed by social media hype and market pleasure reasonably than tangible utility or technological innovation. .

The TRUMP token isn’t any exception, as its speedy rise is related to the workplace of the US President. Reasonably than fundamental values,.

Melania Trump joins the meme coin craze

The president-elect of america has spurred the coin-issuing frenzy, and his spouse Melania Trump has adopted his lead by issuing a coin as properly. In yesterday’s publish on X, First Woman Melania Introduced the launch of MELANIA, TRUMP costs briefly fell after which rebounded.

Nevertheless, just like Binance CZ, outstanding market figures equivalent to essentially the most adopted YouTuber, James Stephen, aka MrBeast, refused to launch meme cash regardless of strain from group members.

Total, TRUMP token market exercise highlights the continued enchantment for meme cash and their skill to draw vital liquidity regardless of their inherent dangers.