jakiro
It can be called the sexiest narrative of Web3 in 2024, “Trump becomes the first Bitcoin president” ended on the evening of November 5, US time. Bitcoin has also broken through the wide fluctuations that lasted for half a year.The range broke through the previous high of $73,700, reaching a maximum of $76,000.
In the traditional market perception, the Trump meme coin, which is most closely related to Trump, will rise sharply with the news of Trump being elected, but interestingly, on November 6, when Trump being elected Web3 carnival, as long as it does not rise, it will appear in the mainstream as long as it does not rise.During the exchange’s decline list, the Trump series meme coins did not perform well on the day they were elected, but instead showed a “halved” situation.
For example, address 0x2f6…1Be78 Under the FOMO sentiment yesterday morning, the king votes had a great advantage, invested nearly 250,000 US dollars to buy 70,000 TRUMP at an average price of $3.55, and has currently lost 88,000 US dollars (about 35.5 US dollars).%).
Why fall?
Judging from the performance of the meme coins of the Trump series since its issuance, taking Trump as an example, on the eve of the Trump campaign, the price was already at a relatively low level.What’s interesting is that when we look at Trump’s current account, since May, Trump’s encrypted address account has been owned by more than $3 million. The main loss comes from Trump’s meme coins with the same name, and the number has not decreased.But as prices shrink, Trump’s assets also shrank significantly.
After Trump’s successful campaign, of course, there was an expectation of “good news to be dispersed”, but taking Trump’s token with the same name as an example, he did not have a significant increase and then “halved”, which is obviously unreasonable.
Politics Series meme No future?
In contrast, some recently emerging political memes, such as Pnut, D.O.G.E, did not see a significant decline like Trump, MAGA, but instead rose.
However, Pnut is not exactly the same as memes like Trump and MAGA. Trump and MAGA are more like “directly given” political meme narratives. If we dig deep into the story behind it, we can only reflect this that reflects the support for Trump.Pnut’s story can be digged deeper.
Pnut is the name of the pet “Peanut” that mechanical engineer Mark Longo, who witnessed a little squirrel’s mother died in a car accident and brought her home to raise her on October 30, and on October 30, the New York State Environmental Protection AgencyOfficials arrested Peanut and performed euthanasia without searching.
Peanut is considered “illegal wildlife” and the public does not agree with it. Babylon Bee, a satirical news website in the United States, said, “Radical squirrels wearing MAGA hats have begun to revolt.” Elon Musk has also been on social media many times.Posted a letter to support Peanut, and this storm about Peanut was sent to a tutorial that abnormally targeted the Democratic Party’s crusades and even political competitions.
From this perspective, we can see that the meme in the political series has not ended, but the narrative of the meme that Trump supports is not “sexy” enough.
Interestingly, the “gambling prediction platform” PolyMarket and the memes of the Trump series have actually become high-quality products to a certain extent. The underlying logic of investing in the memes of the Trump series is not as good as betting on PolyMarket to win. PolyMarket’s transaction in 2024There has been a significant increase in both the quantity and the number of predicted events, which may also explain the long-term sluggish price of the Trump series meme coins.
Related readingsPolymarket: Positioning, expansion and shadowing of the crypto forecast market》
meme or DeFi?Trump’s encrypted fork after he came to the stage
In the eyes of many degens in the market, the great narrative of Trump’s top position and becoming the first “Bitcoin President” in American history will definitely lead to many “golden dogs”. On that day, degens were keen to find various tweets.Various “angles”.
For example, JD Vance’s dog Atlas participated in the voting, and the new Sec Chair, which may be appointed, was called the “crypto mother”, did not get rid of the logic of “PVP”, and quickly fell back after the market value reached a few million US dollars and then returned.zero.Many “diamond degen” failed in PVP on the same day.
When we turned our attention from DEX to CEX, the market sentiment was completely different. CEX was very enthusiastic. The “return to zero copycats” that were scolded by the market for more than half a year showed very good increases.During the day Trump took office, “Kanyangyezhuang” seemed to have disappeared. Many people believe that “if the supervision is loose and you can make money on the table, you really don’t need to be a Kanyangyezhuang.”
DeFi tokens with protocol revenue have also largely gotten rid of their worries about being identified as “securities”. Rune Christensen, founder of Sky (former MakerDAO), said on social media that “Trump’s victory will promote the real DeFiThe possibility of a 10-fold increase in user numbers will be significantly increased, as DeFi benefits the most from a decrease in U.S. regulation uncertainty compared to other aspects of the crypto space.”
These DeFi tokens have gained a good increase when they were elected by Trump. Uniswap has gained a maximum increase of 46%, Ethena has gained a maximum increase of 72%, Jito has gained a maximum increase of 63%, and Lido DAO has gained a maximum increase of 56%, as of the time of publication, there has been a little decline.
Perhaps in the near future, we can see “the bull returns quickly”, the liquidity in CEX becomes abundant again, and the hot money on the chain is not so active.meme may no longer be able to get to the moment of 20 million US dollars in a slightly angle, but instead requires a more sexy and profound narrative to drive the growth of consensus.
