MAGA MEME Coin

Someone said this bull market is being led by meme coins. It's the reverse of what we've been used to with the other cycles where Bitcoin led, followed by the large caps starting with Ethereum and making it's way down the market cap ladder. It may yet be the fact that Bitcoin takes over, but the current pump we've seen in BTC, which was a lot earlier than usual, has been due to institutional investment. Institutions are not likely to do the trickle down reallocation that whales are known to do so we might not see that this time.

I clocked on to this late last year and started looking into meme coins in addition to AI and Gaming coins. I totally missed most of the Solana ones which have been very successful; Bonk, Wif, etc, but I did catch some others - most that are still awaiting their glory days, if they ever happen. There is one that did though. It may well do better, but I think it's got an equal chance of going to zero at any time.

Today, in 2024, Donald Trump is still a very divisive character. Perhaps, being an election year, and considering all the legal procedures he's been going through, he is even more divisive than ever. That is why I knew that this video was going to bring out some strong opinions on my YT channel - but I posted it anyway.

It's about a crypto meme MAGA, which is a so-called "Trump coin". While there are several coins that have "Trump" or "MAGA" in their name or description, this one actually has absolutely noting to do with Trump directly. It's just a meme, like the thousands of meme coins currently available, that someone came up with knowing fully well it would get a lot of airtime. A lot of air time it did get. The coin has gone up nearly 75,000 % in the last year! No doubt it's made some people very rich in a short period of time.

The problem is, people let emotions get in their way of making money. It's the same emotions that rule trading. Money doesn't really care about how you feel. Much like facts, lol. I'm willing to bet that some people that don't like Trump have been able to detach their emotions the transaction and realise the obvious - that the meme was going to pump and pump hard! The probably got in early and have now dumped on the new buyers - the FOMO'ing masses.

I know someone who made hundreds of thousands of dollars selling merch during Trump's first campaign. He was selling MAGA merch to the MAGA community. He was also selling Anti-Trump merch to the other side. That's right, he was playing both sides, and making money hand over feast doing it. You wan't to know the most ironic part? He isn't even American and has never even been to the United States. He did it all from the comfort of his studio flat in London.

It's also worth considering that a lot of the propaganda and "news" going around during that campaign was put out by people outside the United States that had no horses in the race. They only realised that when the masses get emotional, there's a lot of money to be made. My friend tried something similar during the Brexit days but didn't make quite as much money. Brits don't spend as much as Americans generally and, of course, the population is much lower.

I think it's something to think about. If making gains is your goal in crypto, there's a lot to make from people's emotions. There's also a lot to lose, which is why I've now exited my MAGA coin position. It may crash to zero any time soon. Not financial advice as usual, do your own research 🙏

Peace & Love,

Adé