Tokens based on online viral moments outpace bitcoin over past month but critics say they reflect market froth
Cryptocurrencies representing a euthanised grey squirrel, a Thai pygmy hippopotamus and a cartoon dog have exploded in value since last month’s US presidential election, as Donald Trump’s victory triggers a surge in speculation in so-called memecoins. The market for tokens representing online viral moments has expanded rapidly since early November as traders bet that Trump’s administration will usher in more crypto-friendly attitudes and regulation in Washington.
a cartoon dog made after the collapse of exchange FTX in an effort to cheer up traders using the Solana blockchain, has a market cap of $3bn. Traders are excited by the election of Trump and the prominent position secured by billionaire backer Elon Musk, who often posts and reacts to popular memes on his social media platform X. Trump appointed the world’s richest man to run a new US Department of Government Efficiency.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump wins latest: Trump makes first major appointment; three states move to 'Trump-proof' lawsVladimir Putin has described Donald Trump as a 'bullied' and 'brave man' after his monumental political comeback. Meanwhile, three states, including America's most populous, are making moves to protect liberal policies from the next administration.
Read more »
Trump votes with Melania in Palm Beach as he tears into ballot box chaos and says it's his best...Donald Trump and Melania Trump speak out after casting their vote in Palm Beach, Florida.
Read more »
Top pollster Nate Silver makes his FINAL election prediction with just hours until the polls closeDonald Trump and Melania Trump speak out after casting their vote in Palm Beach, Florida.
Read more »
With a Trump Victory All But Assured, Can Donald Trump Run Again In 2028?Donald Trump has declared victory and is on course to become the 47th president of the United States. Can he run again in 2028? Read more on Grazia.
Read more »
Astonishing moment Polish politicians chant 'Donald Trump, Donald Trump' in parliament as they...Watch how US Election Day 2024 unfolded as Donald Trump is projected to be the 47th president.
Read more »
Why did Melania Trump look so different on election day? Plastic surgeon explains first lady's new...Donald Trump and Melania Trump speak out after casting their vote in Palm Beach, Florida.
Read more »