Donald Trump Memecoin Kicks Off Altcoin Season Till 2028, Says CryptoQuant CEO
After the strategic launch of Donald Trump and Melania Trump’s memecoin project, the average daily trading volume of the memecoin industry, led by Dogecoin (DOGE) and Shiba Inu (SHIB), increased sharply.
According to the latest market data, memecoin’s 24-hour average trading volume surged more than 118% during early New York trading on Monday, January 20, hovering around $80 billion.
The deep liquidity of TRUMP and MELANIA memecoins has attracted more mainstream investors into the cryptocurrency industry. On the Solana (SOL) network, multiple DeFi protocols, led by Phantom Wallet, reported huge transaction congestion, causing severe outages and skyrocketing fees.
Memecoin’s prospects under the Trump administration
Donald Trump’s historic victory in last year’s election increased trading levels of FOMO in the cryptocurrency industry, especially meme coins. CryptoQuant founder and CEO Ki Young Ju said the memecoin industry will grow significantly under the Trump administration as the decentralized crypto market remains the intersection of global finance in the coming years.
“Whether you like it or not, let’s just admit it and prepare for the next wave.” Ju famous.
The combination of Elon Musk, the tech billionaire who strongly supports Dogecoin, and Trump will trigger a massive influx of cryptocurrency cash in the near future. In addition, the Musk-backed X platform has obtained money transmission licenses in more than 30 U.S. states ahead of the launch of X Payment in 2025.
However, Zhu warned memecoin traders to be aware of potential pulls, especially from celebrity memes. The fundamentals of most memecoin projects are low, which means investors must conduct thorough research before entering any memecoin community.
“If celebrity coin issuers avoid soliciting and being responsible for their sales, then it’s not as harmful as you think. Even Bitcoin had its fair share of MLM promoters in the early days, selling to elderly investors,” Ju added road.
