Memecoins and Market Volatility: $TRUMP coin

Hey, everyone! If you have been following the crypto news, you know about the $TRUMP coin, a politically themed memecoin that peaked before the inauguration and, despite dumping afterwards, is still over $20.

In this clip:

• Political themed memecoins
• Launching of $TRUMP and dump after the inauguration
• No utility other than having fun
• Shorting $TRUMP

I'm not much into memecoins, but they have been playing an interesting role in recent cycles, so they have captured my attention. It's worth giving them a look, analyzing them, and taking the opportunities they offer.

The $TRUMP coin is a memecoin that doesn't seem to have any utility other than having fun with it. The founders retain 80% of the supply, which might help to keep its value in the two figures. However, a lot of hype went into the coin early on, and the price skyrocketed; it should stabilize at a more reasonable rate.

I decided to short it; I entered at a good high price of $62. It made me sweat for a while before the price started to go down. Did you buy it? What are your thoughts on this memecoin?

Posted Using INLEO