CryptoQuant CEO Ki Young Ju, previously skeptical of meme coins, has shifted his perspective, describing them as the “spiritual energy of internet society.” His change of heart aligns with the recent surge in popularity of meme tokens, fueled by US President Donald Trump’s launch of the TRUMP token.
Initially, Young Ju dismissed meme coins as “gambling products,” expressing concerns about their impact on the crypto industry. However, in a recent X post, he acknowledged their cultural significance and potential. “As long as a meme has enough mindshare, meme coins can take on countless forms in the future,” he stated. This marks a notable departure from his earlier criticism, signaling growing acceptance of meme tokens within the crypto community.
TRUMP Token Sparks Market and Regulatory Debate
The launch of the TRUMP token ahead of Trump’s inauguration generated immense buzz, with the coin surpassing $8 billion in market capitalization within three hours. Despite its initial success, the token’s value has since dropped to $40.19, representing an 18.7% daily decline. Analysts suggest the price could dip further, possibly reaching $10 in the coming days.
The TRUMP token’s debut has also reignited discussions around the need for crypto regulations. Legal experts, including XRP attorney John Deaton, emphasize the importance of establishing oversight for meme coins. Meanwhile, advocate Bill Morgan urges policymakers to implement comprehensive regulatory measures in response to the rapidly evolving market.
While Trump’s first executive orders excluded cryptocurrency-related policies, the community remains hopeful for regulatory clarity under his administration. For now, the spotlight remains on the potential of meme tokens to reshape the digital economy, as highlighted by CryptoQuant CEO Ki Young Ju’s evolving viewpoint.
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