Elon Musk Urged to Launch His Own Token as Trump Feud Escalates—Pump.fun Sees Opportunity
Meme coin platform Pump.fun publicly nudges Elon Musk to enter the crypto fray amid his highly publicized spat with former President Trump. The move comes as speculation swirls around celebrity tokens becoming the next casino chips for degens.
While neither billionaire has confirmed any crypto ambitions, the platform's timing couldn't be more opportunistic—nothing fuels token pumps like a good old-fashioned feud between egos the size of their net worths.
Just imagine the volatility: a Musk-Trump token war would make the average shitcoin chart look like a flatline. And you thought Dogecoin was a meme.
Musk tokens lose out on the Trump hype
Tokens inspired by Elon Musk only reached a valuation of around $1B, excluding DOGE. The latest fallout with Trump also generated its list of Pump.fun tokens, most notably Kill Big Beautiful Bill (KBBB), which graduated from the trenches. KBBB rallied and crashed within the span of a day, showing the short-lived HYPE of the battle. Even the biggest whales managed to realize only $160K from early trading.
Multiple smaller tokens were launched on Pump.fun, under trending topics like ‘Elon Drama’ and ‘Political breakups’, though rarely exceeding $10K in market capitalization. The drama was beneficial for Pump.fun, however, raising its daily active users over 116K, with more than 32K launched tokens. The platform also locked in over $2M in daily fees, above its usual range.
Only a single token, Official Trump (TRUMP) is valued at $10B, remaining the leading Solana meme. However, Official Trump had much wider publicity and relied on the role of Trump to entice buyers. Despite this, TRUMP is still down to $10.09, wiping out 8% in the past day as traders sold off the asset. Later, the asset dipped under $10, with expectations of wiping out even more value.
TRUMP crashed under $10 on reputational damage, setting expectations for further losses. | Source: Coingecko
TRUMP is also facing a new set of troubles, as World Liberty Financial issued a cease and desist order against Fight Fight Fight Ltd. The company behind the official meme token attempted to launch a Trump wallet, this time facing a backlash. Unfortunately, the conflict was one of the factors that erased the value of the token.
The reputational damage of TRUMP may boost the prospects for an ELON token, should the market choose sides. The TRUMP crash follows a period of whale accumulation, especially leading up to Trump’s crypto dinner. The disappointing meetup further cut into TRUMP’s appeal, leaving some whales with unrealized losses. TRUMP tokens will also face pressure from ongoing unlocks and selling from large insider wallets.
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