One meme analyst said that the growing interest in meme coins is driven by the money supply, contrary to some belief that it is due to politics.
A reaction to speculation circulating on social media that if a Republican wins the White House, it will be the end of meme coins.
Politics is not the reason
Murad, the meme expert, pointed out that politics cannot be the main reason behind the rise in meme currencies.
The analyst explained that the aforementioned cryptocurrency does not care about “political winds” or the US Securities and Exchange Commission (SEC), adding that “99% of cryptocurrency buyers do not care much about politics.”
It’s a position that contrasts with Nick Carter, a well-known Bitcoin user, who sees the hype and craze as… com. memecoins It is the result of an “oppressive SEC regime.”
– Memecoins = in large part a reaction to the oppressive SEC regime
-If the SEC finds it rational, there will be less desire/need to trade meme coinsQED, Trump Bearish Memcoins https://t.co/l3CmArstsh
– Nick Carter (@nic__carter) October 27, 2024
Money supply is the driver
Murad said that in his opinion, the rising global money supply is the main driver of the popularity of cryptocurrencies, saying that a booming money supply indicates that there is a lot of money in circulation, which investors can use to buy memcoins and other high-risk assets. .
99% of Memecoin buyers don’t care much about politics
There are secular social and economic forces at play that are much larger than just one election
The rise of Memecoins has more to do with the ongoing rise in the global money supply.
Will this stop under Trump? no.…
– Murad 💹🧲 (@MustStopMurad) October 27, 2024
According to him, individuals buy meme coins “to get a great opportunity,” adding that these people are not too concerned about projects with switching fees or “legitimate revenues.”
Murad pointed out that if Cryptocurrencies If we switch to projects similar to stock trading such as dividends, a large part of the market will be eliminated, saying that investors come to cryptocurrencies because of the significant rise in prices and not to trade stocks.
Will the Republican kill meme coins?
Meanwhile, a professor at Columbia Business School predicted that if… Donald Trump He returns to the White House, or if the Republicans sweep the US national elections, it will mark the end of meme coins.
Omid Malkan believes that memes are forms of economic protest, saying that people are turning their attention to memes because of state policies. second And direct them in this direction.
For more Solana fans, here’s an argument for why a Trump win and/or a Republican sweep (which Polymarket owns 50%) would be bearish memcoins.
i) Memecoins themselves are a form of economic populism. It’s a statement against injustice (and often a brave one)…
– Omid Malakan 🧙🏽♂️ (@malekanoms) October 27, 2024
Malkan argued that meme currencies are being used against what he called “dubious venture capital-backed currencies,” saying that cryptocurrencies are a symbol of “economic populism.”
He added that people are using the coins to protest regulatory crackdowns, saying this is a reaction to the “toxicity of the Gensler/Warren system.”
Hence, he believes that if the Republicans win election It will be a turning point that will allow the return of “rationality” in tokens, global airdrops, and ICOs, a situation that may lead to the demise of meme-mania.
He accused the Securities and Exchange Commission of being the entity responsible for the entry of digital currencies into the market, something Malkan believes will stop once Trump wins the elections.
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