Politi-Fi Memecoins Make a Comeback

With Trump’s inauguration over the horizon, Politi-Fi coins are back on traders’ radars.

Background

• TRUMP and MELANIA have quickly sprung up to become the third and eighth largest memecoins
• The former has managed to overshadow the likes of Pepe, Bonk, and Fartcoin on the rankings front, while the latter has flipped ai16z and MOG

Why should you pay attention?

• The TRUMP/USDT pair has become the most-traded pair over the past 24-hours on Binance, representing 11.96% of the total exchange volume, overshadowing BTC, SOL, ETH, and USDC  
  

• The Solana network did experience network congestion briefly, with no transactions reported for around half-an-hour during peak trading

Who said what?

• Traders have been encashing on the ongoing price action
• According to on-chain tracker Lookonchain,

“Someone created 2 wallets to buy MELANIA and made $47.5 million!”

• Ki Young Ju, the founder and CEO of CryptoQuant, asserted,

"The underlying reality of financial markets behaving like memes isn’t going away”

• He added,

“It’s worth considering how to make the most of it. With its decentralized nature, crypto is a fully global, unrestricted market, meaning even more meme-like assets will inevitably emerge”

• He further went on to highlight that the Trump administration has embraced “free markets” instead of regulated markets
• Over the next four years, we’ll likely get to see “all kinds of experiments” with meme-driven communities in the crypto, according to the executive

In other related reads

• Crypto’s New Playmaker: Trump Picks Bo Hines to Spearhead Digital Asset Policy
• Will Not Attack ‘Industries of the Future’ like Crypto, AI: Trump
• Gensler: The SEC has 'Never Said' That BTC, ETH are Securities
• All You Need To Know About the ‘America-First’ Crypto Reserve