As the Trump assassination incident fermented, the MEME concept related to it was removed from the production line overnight, and various Rug phenomena also became rampant. What are the reasons for the crazy MEME hype in this round of bull market? This kind of hype chaos has been worried and criticized by some celebrities, so when will this hype chaos stop being crazy?
Trump was assassinated, and related MEME concepts were put into production overnight
The most recent event that has shocked the world is undoubtedly the assassination of Trump during his speech. After experiencing life and death, Trump has become more aggressive and has a special liking for the blockchain industry. Shortly after the assassination, Trump confirmed that he would attend the Bitcoin conference in late July. The crypto market is also extremely supportive of Trump. In addition to many well-known crypto people announcing their support for Trump, retail investors are even more enthusiastic.
On July 16, US presidential candidate Trump posted a new social email at 11:51 Beijing time, with the text "Don't be afraid (FEAR NOT), I am Trump, I will make America great again!". A stone stirs up a thousand waves, and the FEARNOT meme token with the same name quickly appeared on Solana and Ethereum networks and received a certain degree of attention and hype.
After being sought after by the crypto market, on July 17, in an exclusive interview with Bloomberg Businessweek, Trump revealed plans to launch his fourth NFT series. In the interview, Trump called his previous series "very successful" and sold out in one day. "The whole series is sold out, 45,000 cards. I did it three times, and I'm going to do it again because people want me to do it again. The spirit is incredible. It's beautiful." In a way, Trump has slightly heated up the slightly dormant NFT trading market.
Why is Trump so supportive of the crypto industry? Trump's main supporters are the lower-middle class white people, who are also keen on hyping memes. Trump's political stance is against the elites, and retail investors in the crypto industry have suffered from VCs for a long time. MEME and NFT connect the two very well to some extent. However, it is worth noting that the hype of Trump's concept memes has become crazy, and if it continues, it may backfire.
KOL Janet.Huang commented: Like all hot events, after Trump was assassinated, the production lines in Yiwu and Shenzhen started the fastest. Yiwu produces T-shirts and other peripherals, while Shenzhen produces memes. In Shenzhen, a small team made hundreds of Trump assassination concept coins in one night, and some started to rug with tens or hundreds of U income. There have emerged $Survior, fight, ear, fear not and other plates, and there are many with the same name, multi-chain with the same name. At present, fight has the best chance, because the market maker has a slightly larger pattern, will protect the market and pay the coin listing fee. But I think fight is too broad, even Trump's campaign website said Fear Not, not fight. And fight's insider warehouse also holds nearly 20% of the chips. The most important thing is that fight has nothing to do with Trump's assassination.
A variety of things, a quick look at the Trump assassination MEME concept coins
As mentioned above, Trump's assassination became the most discussed topic for a while, and the MEME concept tokens related to it also became the "hot cake" that all kinds of people rushed to issue. To some extent, a good name or introduction may bring huge wealth to the issuer, which is also the hype logic behind this madness. Below, the author briefly lists some relevant MEME concept coins that are worth paying attention to.
EAR
EAR is another meme coin that has attracted attention after Trump was attacked. The reason is that Trump was not shot, but his right ear was hit by glass fragments after the bullet hit the teleprompter screen next to him, but EAR STAYS ON. Therefore, EAR is regarded as a lucky word for Trump's "survival", and it may also be related to the fact that many people believe that Trump will be re-elected as the US president after the assassination and will soon become the "leader" again.
FREE
The slogan of the project is "Fight For Freedom", but the current token price trend has taken the lead in achieving "free fall", and has plummeted more than 133 times compared to the high point of $0.001. Of course, the possibility of "digging up the grave and resurrecting the corpse" in the future cannot be ruled out, but at present, it is more likely to return to zero.
MAGA
MAGA is the acronym of Trump's famous campaign slogan "Make America Great Again", so it can be called the "oldest slogan". At the same time, there are relatively many types of tokens, which once soared to over $17. In addition, another Meme coin project was created based on this slogan - MAGA Hat (red hat), which is also one of the iconic items of Trump's offline campaign activities.
DJT
DJT was originally the stock code of Trump's social media platform Truth Social. But in mid-June, media reported that Trump's son Barron was promoting DJT (TrumpCoin), which was later proven false.
TRUMP
Generally speaking, the tokens of celebrity meme coins outperform all kinds of memes, but the tokens of Trump concept coins perform relatively weakly. This may be due to the large number and variety of tokens with the same name, or it may be that for Trump's fans and cryptocurrency players, a project with a conventional name as a token ticker is not as attractive as a project with a fun and interesting "stalk" as a token name.
When will the MEME chaos stop being so “crazy”?
Judging from the current market performance, the craziness of MEME speculation is much higher than that of previous bull markets. What is the reason behind this? So, when will such MEME speculation not seem so "crazy"?
The MEME hype in this round of bull market is very different from the previous ones, and the reasons are very complicated. From the perspective of blockchain technology development, 2017 is the first year of public chain. Many mainstream public chains were born that year. This is the main stage of the development of blockchain underlying technology. However, after a period of fierce competition, the current public chain pattern has basically taken shape. The most important technological development in this round of bull market is mainly concentrated on Layer2, which largely makes up for the shortcomings of insufficient performance of the underlying public chain. This means that the blockchain industry currently needs to build the application side, which means that it needs to compete in the Web2 track. However, the leader of the Web2 track has already established the arena, so it is very difficult for the blockchain industry to quickly break the circle and give birth to phenomenal applications. I am afraid that it will be difficult to see it in this round of bull market. Perhaps it is more realistic to complement Web2 applications. In addition, in addition to technical restrictions, restrictions on policies and regulations of various countries are also problems that the blockchain industry needs to face. Without policy unblocking, it is also difficult to give birth to decentralized applications that break the circle. At least from the perspective of data security, many countries are unlikely to allow it.
From the perspective of the participants in the blockchain industry, participants in the blockchain industry have the concept of anti-VC, decentralization and openness, which is reflected in MEME. After rounds of VC investment in well-known projects, their project valuations are already very high. Due to their limited ability to create value, there are actually very few people who are willing to take over except for airdrops.
Finally, this round of MEME explosion, especially the recent campaign concept MEME token, is directly related to the US election and Trump and related party members. Trump himself has issued NFTs three times and plans to issue four times. He is good at "governing the country with Twitter" and is full of goodwill towards Bitcoin, which also gives the MEME track an opportunity for explosive hype.
Summarize
Overall, the hype of the MEME concept may gradually cool down after the US election; but if it really wants to cool down, the key is whether the crypto market can create real breakthrough applications, create value for society, and bring new traffic to the industry. When a new consensus is formed, it will naturally form a joint force. However, since the competitor this time is a traditional Web2 giant, its road may not be smooth.
