Coingeco observer said that over the past seven days, from April 23 to 29, the spray volume of trading Trump token on large crypto -rhizas has grown by hundreds and thousands of percent: on Coinbase – by 355%, on Kraken – by 1040%, at Bitstamp – by 7974%, on Binance – by 554%, by 554%, by 554%, by 554%, by 554%, by 554%, by 554%. OKX – by 590%, on Bybit – by 688%.
The observer analysts note that the jump in the price of a memcoid did not have any fundamental grounds, but was provoked by a stir and large-scale advertising, which reported on the upcoming May 22 gala din with Trump surrounded by 220 largest Trump holders. Of these, the 25 largest holders should receive VIP Generation and a special tour of the presidential residence.
The advertising campaign led to an increase in the price of Trump token by 60% per week, and the capitalization of the project increased from $ 1.6 billion to more than $ 3 billion. However, on April 29, Trump became the leader of the TOP-100 digital assets, having lost 9.6% of the cost per day and a price of about $ 13.7 billion, according to the capitalization of $ 2.7 billion, according to Coingecko.
Coingecko experts said that the explosive growth of trade volumes and the subsequent drop in prices reflect the speculative nature of memecoons. The excitement around the dinner with Trump caused excitement, but the lack of fundamental value of token led to a rapid price rollback.
A sharp surge of interest in token was accompanied by criticism from American senators Elizabeth Warren and Adam Schiff, who sent a letter to the US government ethics department, demanding investigation. The parliamentarians said that the advertised event has “serious corruption risks” and may be part of the Pay to Play scheme, which provides access to the political levers of power for money.
Source: Bits
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