TRUMP Meme Coin Explodes—Could It Outperform Bitcoin?

• BitMex’s CEO has, in a detailed report, explained the relevance of political meme coins like TRUMP in the current political landscape. 
• In his post, Arthur Hayes highlighted that TRUMP could outperform Bitcoin if the momentum continues to increase. 

Trump coin (TRUMP) has refused to follow the broad market downtrend as it prints 24% gains on its 24-hour price chart. According to our market data, the ongoing rally has extended its monthly returns to 200% to trade at $20.6.

At press time, TRUMP had become the 33rd largest crypto by market cap as its trading volume also increased by 23%, with $2.5 billion changing hands. Meanwhile, it is reported that 77% of the wallets holding this asset have not made more than $100 in profit, according to our recent analysis.

Would TRUMP Surpass Bitcoin?

In a recent blog post by BitMex CEO Arthur Hayes, TRUMP could surpass Bitcoin if the momentum continues. According to him, political meme coins like TRUMP would provide true real-time global opinion polls on politicians. Additionally, it would onboard billions of people into Web3 while ensuring that political campaigns increase engagement at almost no cost.

Delving into political meme coins, Hayes pointed out that this asset class provides “zero-knowledge proof of political popularity.” This implies that individuals can directly support politicians by purchasing their meme coins.

Thus, a politician gains information on the genuine opinion of the people. And finally, those who only want to go with the flow can support a politician because their memecoin’s price is up only, it allows them to be confident that they are supporting the side that everyone knows everyone else knows is going to win.

Speaking on why people prefer the TRUMP coin over other memes, Hayes highlighted that owning a portion makes investors a member of a Trump supporters group. For the holders, the popularity of Donald Trump could increase in the future and would likely impact the price. This was evident in the rally recorded days before the US presidential inauguration. As mentioned in our previous news brief, the asset surpassed PEPE, and Shiba Inu to become the second-largest meme coin.

According to Hayes, its price-determining factors are also easy to understand.

That’s it. There are no fancy economic or financial theories to know. You don’t need to understand algebra, basic calculus, statistics, or probability theory. You just have to think and feel like a red-blooded human. Therefore, anyone can understand what gives a political memecoin value.

Political Memes in Political Campaigns

In the post, Hayes also explained that Political meme coins could be used as a perfect tool for a campaign. According to him, holders of a particular meme would prefer to vote for a particular politician to retain the value of the asset. To him, they directly “connect financial gains to support at the ballot box for every single voter.”

If only the challenger has endorsed a political meme coin in a particular race, they have the upper hand. That is because they can offer a direct financial benefit to going out and voting without paying for it. Memecoins are the most effective form of political advertising because they work as a viral digital word-of-mouth campaign.

Meanwhile, not everyone believes in the need for political meme coins. As featured in our recent coverage, Massachusetts Senator Elizabeth Warren, for instance, believes that such tokens, including TRUMP, are primarily tools for political influence.