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Why are “Trump” concept coins being created?
Meme coin TRUMP soars over 40%
Trump NFTs also rise
Mechanism Capital partner Andrew Kang revealed in a tweet today that Mechanism Capital has accumulated a batch of meme coins and NFT digital assets with Trump as the theme since early 2024.
Andrew Kang explained that meme coins are all about the “attention economy,” and Trump is one of the world’s best at attracting attention, especially now that the U.S. primaries have just begun and he is likely to win, according to polls. Kang stated that the public will continue to talk about Trump and all of his provocative, shocking, and interesting remarks throughout the entire election period, which will capture people’s attention.
In addition to the election, allegations such as the federal election subversion case, Mar-a-Lago estate secret documents, Georgia election subversion case, New York AV star hush money case, and Trump Organization civil fraud case will also attract more attention.
After discussing the “subject matter,” Andrew Kang returned to the meme coins themselves, stating that although there are many meme coins with Trump as the theme on the market, only the one with the highest market value has long-term potential and becomes the gathering point for all Trump speculation. The meme coin referred to by Andrew Kang is the meme coin TRUMP, which currently has a market value of $117 million, and its token price has risen over 40% in the past 24 hours.
However, Andrew Kang also warned that all meme coins carry risks, especially meme coins like TRUMP:
However, overall, Andrew Kang believes that TRUMP may be the first meme coin he has seen that can compete with Doge/Shib.
It is worth mentioning that in addition to the surge of meme coin TRUMP, the floor price of the NFT series collection “Trump Digital Trading Cards” issued by Trump himself has also risen from 0.22 ETH in the morning to 0.32 ETH, an increase of over 45%.
