Meme coins have regained attention after the TRUMP token launch. CryptoQuant CEO Ki Young Ju has revised his stance, acknowledging their significance.
The Significance of Meme Coins
CryptoQuant CEO Ki Young Ju described meme coins as the 'spiritual energy of internet society' in a post on the X platform, revising his previous view of them as 'gambling products'.
The TRUMP Token Launch
Prior to his inauguration, Donald Trump launched the TRUMP token, raising over $8 billion in its first three hours, sparking discussions in the crypto industry. However, the token's price later dropped to $40.19, falling by 18.7% daily, with analysts predicting a potential drop to $10.
Discussions on Crypto Regulation
While the TRUMP launch was successful, experts emphasize the need for urgent crypto regulation. XRP supporter lawyer John Deaton argues meme coin regulation should be a priority over other issues like the SAB 121 law. Concerns were raised due to the lack of crypto policies in Trump's initial executive orders.
The TRUMP token launch has significantly impacted the popularity of meme coins, highlighting the importance of crypto regulation. Experts advise caution for market participants due to increasing volatility.
