Speaker 1: It's meme coin madness. Donald Trump's meme coin crashes down
Speaker 1: to forty dollars after hitting over seventy bucks, and Milania
Speaker 1: Trump is launching her own meme coin. This is while
Speaker 1: I'll give it to details, let's get into it. Hey, everybody,
Speaker 1: welcome into the Thinking Crypto podcast. You're home for cryptocurrency
Speaker 1: news and interviews. I'm your host, Tony Edward. On your
Speaker 1: way in. Please sit that subscribe button as well as
Speaker 1: the thumbs up button and leave a comment below. If
Speaker 1: you're listening on a podcast platform such as Spotify or Apple,
Speaker 1: please leave a five star rating and review. Folks. We're
Speaker 1: seeing some craziness in the market right now. Before we
Speaker 1: get to the meme coin news, we have to talk
Speaker 1: about bitcoin because it did fake us out. It touched
Speaker 1: one hundred and six thousand dollars today and it looked
Speaker 1: like it was going to go into a very bullish
Speaker 1: close for the week, but then it corrected heavily and
Speaker 1: currently it's sitting around one hundred and one thousand dollars.
Speaker 1: So let's see guys. As I said in yesterday's podcast,
Speaker 1: expect volatility. We get the inauguration tomorrow and things are
Speaker 1: going to be very choppy, so as always, went in down,
Speaker 1: zoom out, and let's see what the market shows is
Speaker 1: this week. But guys, the big news has to be
Speaker 1: the meme coins and the madness that's happening here. As
Speaker 1: reported in yesterday's podcast, Trump launched a meme coin. It's
Speaker 1: been sucking all the liquidity out from the rest of
Speaker 1: the all coins. It's been pumping significantly, went over seventy bucks.
Speaker 1: And if you look at the coins that are leading
Speaker 1: right now, it's trump Coin, followed by Malania Coin and
Speaker 1: fart coin. This is crazy. It's meme coin madness, guys.
Speaker 1: And Trump's coin dumped today. As mentioned, it touched over
Speaker 1: seventy actually touched seventy five dollars. Right now, it's sitting
Speaker 1: around forty four dollars. So if you look at the chart,
Speaker 1: big red candle, it's not a complete rug, but it
Speaker 1: looks like it's on its way to be a rug.
Speaker 1: So this is why you have to be careful of
Speaker 1: meme coins. This is why I've been sounding the alarms
Speaker 1: warning people be careful. It's like walking into the casino
Speaker 1: throwing it on black or red. Just be careful, guys.
Speaker 1: I'm not telling you what to do with your money.
Speaker 1: I'm just presenting the facts to you, and here are
Speaker 1: some clear facts. Here's the chart. Look at it. This
Speaker 1: is the trump coin. Look at this giant red candle
Speaker 1: on the daily right. So this thing was moving like crazy,
Speaker 1: and I tweeted out about it and a lot of
Speaker 1: people got triggered. But I was asking how to short
Speaker 1: it and much more so, be careful with these meme coins.
Speaker 1: And Milania decided to launch her own meme coin. It's
Speaker 1: also built on Solana and her token allocation, according to
Speaker 1: her website, is fifteen percent for the public. Donald Trump's
Speaker 1: was ten percent. I sett in yesterday's podcast that is
Speaker 1: a red flag. I don't like that setup. But hey,
Speaker 1: it's the free market, and if people want to invest blindly,
Speaker 1: not understanding what's happening here, they're going to get wrecked. Now,
Speaker 1: this meme coin situation is a hot topic right now
Speaker 1: in the crypto industry, very divisive. Some people saying, oh,
Speaker 1: this is good, it's going to bring more people to crypto.
Speaker 1: Other people are saying this is a griff and it's
Speaker 1: going to get a lot of people hurt and scammed,
Speaker 1: and who knows what happens as Donald Trump goes into office.
Speaker 1: This is pretty nuts, and as you can imagine, there's
Speaker 1: going to be a ton of regulation coming in on
Speaker 1: these things. One user highlighted here that a few minutes
Speaker 1: before Trump retweeted Malania's meme coin, a fresh wallet bought
Speaker 1: one million dollars worth at fifty nine cents. He says,
Speaker 1: Mlania has already skyrocketed to seven dollars and eighty three cents.
Speaker 1: Now they are up twelve million dollars in hours. Guys,
Speaker 1: this is crazy and as you can probably imagine, there's
Speaker 1: people who know about this. There's probably some insider trading.
Speaker 1: And I say probably because I don't know fully, but
Speaker 1: when I see stuff like this, I know that the
Speaker 1: retail people who don't know better, and they don't know
Speaker 1: how to read unchained data, they don't understand tokenomics and
Speaker 1: much more, they're going to get wrecked. And look, there's
Speaker 1: a lot of Trump supporters. It's one thing to support Trump,
Speaker 1: right and you say, hey, I voted for him and
Speaker 1: I appreciate Trump. That's from just blindly investing in a
Speaker 1: meme coin, even if it's issued by Trump. It's two
Speaker 1: separate things here, and many people mentally can't delineate between
Speaker 1: the two things. They can't separate them, and that's unfortunate.
Speaker 1: But hey, look it is what it is. I'm just
Speaker 1: doing my job here to share the knowledge with you guys,
Speaker 1: to help you understand. And I don't hold any of
Speaker 1: these coins. I don't hold any meme coins, you guys know.
Speaker 1: I primarily hold Bitcoin, etherorem XRP. I've got other coins
Speaker 1: like hbar, Solana, Chainlink, and so forth. But I don't
Speaker 1: know what's going to happen with trump coin because it
Speaker 1: was at number fourteen earlier today it's now at number eighteen,
Speaker 1: and will they continue to drop. It's possible there could
Speaker 1: be a big sell off here. Some people were saying
Speaker 1: that Donald Trump did this before he got into office,
Speaker 1: and then he's going to disavow it because there's specific
Speaker 1: rules in the Constitution to prevent you from benefiting financially
Speaker 1: in certain ways while you're a president. So look, I'm
Speaker 1: not a institutional law expert. I just saw what other
Speaker 1: people were putting forth, and here there was even a
Speaker 1: coin creative around TikTok. This is nuts, guys, I mean,
Speaker 1: come on, right, the whole TikTok scenario of TikTok getting
Speaker 1: banned and unbanned. I think it's live again. And one guy,
Speaker 1: Ryan Fournier, apparently he's an advisor to the Trump camp.
Speaker 1: He was participating in it and that dumped. So it's
Speaker 1: mean coin madness. Now what's interesting? Eric Trump, donald Trump's son,
Speaker 1: says wait till you see what they do tomorrow, and
Speaker 1: he tagged the World Liberty Financial account. So World Liberty
Speaker 1: Phi is the other crypto project that is associated with
Speaker 1: Donald Trump. Donald Trump Junior also tweeted out about it, saying,
Speaker 1: we are extremely proud of what we continue to accomplish
Speaker 1: in crypto. Trump is currently the hottest digital meme on Earth,
Speaker 1: and I truly believe that World Liberty FI will revolutionize
Speaker 1: defied slash she fi and will be the future of finance.
Speaker 1: We are just getting started, and some people like, please
Speaker 1: stop because the Trump coin Milania coin stuff is just
Speaker 1: going nuts right now. So let's see what they come
Speaker 1: up with. One thing that's interesting on chain data analytics
Speaker 1: is showing that Trump's World Liberty Financial has been buying
Speaker 1: a lot of etherorem They bought millions of eth in
Speaker 1: different transactions, So what do they know here? Right? They're
Speaker 1: buying tons of eth, guys. So it's kind of crazy.
Speaker 1: Some people are saying, are they taking the profits from
Speaker 1: the Trump meme coin and then putting into World Liberty
Speaker 1: FI to buy eth? I don't know. That's what it
Speaker 1: seems like. But we gotta be careful here, guys. Once again,
Speaker 1: you could have voted for the man. You may say, hey,
Speaker 1: I like what he stands for and so forth. That
Speaker 1: doesn't mean you go be done with your money. Be careful, guys.
Speaker 1: Something weird is going on here, and it may not
Speaker 1: be Donald Trump. I said it yesterday. It could be
Speaker 1: just his kids doing this. And Trump may have no
Speaker 1: clue about all these things. He may know, oh my
Speaker 1: coin is up, but he doesn't understand the implications of
Speaker 1: what's happening here. Right, But maybe Eric and Donald and
Speaker 1: Baron know. So this is the thing, right, It's not
Speaker 1: even Donald Trump doing these things necessarily, but his kids.
Speaker 1: So be careful out there, folks. Now, I tweeted out
Speaker 1: something that triggered a lot of people, and let me
Speaker 1: refresh it here. I'll give you a full breakdown, but
Speaker 1: it's about the sentiment and what's happening here. Remember when
Speaker 1: I keep telling you, guys, hey, have a plan, have
Speaker 1: a cash out plan. Why am I saying that? Let
Speaker 1: me read this to you. We are definitely in the
Speaker 1: final phase of the bullmarket Wave five. The current meme
Speaker 1: coin activity is peak greed, as we've seen in many
Speaker 1: speculative bubbles. Same story, different acid class. Remember meme investing
Speaker 1: started in twenty twenty into twenty twenty one with GameStop
Speaker 1: in AMC, and before that it was buying as many
Speaker 1: houses as possible with no income, no doc loans in
Speaker 1: two thousand and five to two thousand and seven, and
Speaker 1: before that it was grabbing as many dot com stocks
Speaker 1: as possible, regardless of if they had a business model
Speaker 1: or not. Now I left out icos and NFTs, but
Speaker 1: I think you guys get the idea right. Speculative bubbles
Speaker 1: frenzy mania, and this is what I've been saying. Things
Speaker 1: are gonna get crazy and euphoric and extreme greed. You
Speaker 1: guys know I've been saying that, You're starting to see it,
Speaker 1: and I believe we are in the final phase of
Speaker 1: this bullmarket, the Way five. Now, the Way five can
Speaker 1: last from months to a year, So don't get me wrong.
Speaker 1: I'm not saying that bullmarket ends tomorrow or next month.
Speaker 1: Just understand where we're at, and you're going to see
Speaker 1: a lot of djen activity and people getting super greedy
Speaker 1: and oh no, you're crazy. This is a supercycle. This
Speaker 1: thing is not ending this year. Right, You're gonna see
Speaker 1: all types of madness. People who don't understand market cyclists.
Speaker 1: They don't understand bull and bear market cyclists. But we
Speaker 1: know that, we're educated. We've been here in the bloody
Speaker 1: bear market buying, right, So be careful out there. It's
Speaker 1: gonna get crazy and people are gonna call you stupid
Speaker 1: for taking profits. You're gonna say all types of stuff.
Speaker 1: But they just got in, right. The dumb money crowd
Speaker 1: is starting to enter. They're not all here yet, but
Speaker 1: they're starting to enter. And unfortunately it's with Donald Trump's
Speaker 1: mean coins. I wish that wasn't the case. I don't
Speaker 1: think this is great optics for a president, but look,
Speaker 1: it is what it is, and I'm just gonna ride
Speaker 1: this wave, take my profits while these people come in
Speaker 1: and they're like, oh, we're gonna keep going higher and
Speaker 1: everything's gonna be pumping. The bullmarket doesn't even started yet.
Speaker 1: People were literally commenting on this posting the bullmarket has
Speaker 1: not started yet. Guess what The bullmarket started in January
Speaker 1: twenty twenty three. Go look at the charts. The charts
Speaker 1: tell you what's been going on. But you see the
Speaker 1: people who are saying these things are not financially educated.
Speaker 1: They don't understand what's happening. Guys, It's going to get crazy,
Speaker 1: but there's going to be a reckoning, as there is
Speaker 1: in every cycle. Here. Congressman Rocanna, who's been a champion
Speaker 1: for crypto, and I had him on the podcast a
Speaker 1: couple of times, he said elected officials must be barred
Speaker 1: from having mean coins by law. Meme coins are highly speculative,
Speaker 1: like gambling, must be regulated by the SEC. They are
Speaker 1: neither neutral money, not controlled by insiders or platforms for innovation.
Speaker 1: I kind of agree with him there. Now, don't get
Speaker 1: me wrong, I'm not anti mean coined that all meme
Speaker 1: coins need to be banned and much more. I think
Speaker 1: there needs to be some regulations around it though, because
Speaker 1: people are getting rugged, guys, Trump aside, people are getting rugged.
Speaker 1: How do you put a stop to that? Right, you
Speaker 1: can't have that, and then you have legit projects in
Speaker 1: the top ten. I'm talking like etherorem and Salona and
Speaker 1: XRP and Cardono. Right, people should be investing in projects
Speaker 1: like this that are proven, that have been around for
Speaker 1: multiple years, that have a developer community, they have actual
Speaker 1: real world adoption. So we need to clean this up
Speaker 1: and get people to focus on the right things. Now.
Speaker 1: As I stated, you know, in every speculative bubble you
Speaker 1: have this type of euphoria and greed and froth. Right,
Speaker 1: So you can't stop all of it. But I'm concerned
Speaker 1: about you know, when Grandma's and all these people come
Speaker 1: in and grab meme coins and then they get wrecked.
Speaker 1: We don't want to see another FTX and situation like that.
Speaker 1: So I hope you guys understand where I'm coming from
Speaker 1: when I make these statements. And I know some people
Speaker 1: are gonna get triggered because they feel I'm talking down
Speaker 1: to their bags, right and not making their bags go up,
Speaker 1: But they don't understand the risks. They haven't been around
Speaker 1: the block. And but look, you know, maybe that's their lesson.
Speaker 1: They need to feel it, they need this is the
Speaker 1: way they learn and maybe next the next cycle around,
Speaker 1: they'll know better, hopefully. So guys, that's the news. It
Speaker 1: is wild. It is crazy. I didn't even know what
Speaker 1: to say at this point because there's a lot of
Speaker 1: uncertainty here with Trump going into office tomorrow and much more,
Speaker 1: and no one saw the coming. And hopefully people don't
Speaker 1: get wrecked. I don't want to see Donald Trump's coin
Speaker 1: dump and get rugged because I know a lot of
Speaker 1: people are going to get wrecked. So let me know
Speaker 1: what you guys think. Leave your thoughts and comments below. Guys,
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Speaker 1: Today I did a write up on the Trump and
Speaker 1: Millennia meme coins, so that includes a lot of information
Speaker 1: and data. And grab a copy of my book Rethinking Crypto.
Speaker 1: It actually covers what happened with FTX and the things
Speaker 1: you should avoid when it comes to investing. So my
Speaker 1: book has these warnings in it guys, so grab a
Speaker 1: copy if you haven't as yet. Thank you guys for
Speaker 1: watching and listening. I appreciate you all, and I'll talk
Speaker 1: to you all later