Yet I keep seeing people who are somehow surprised and disappointed that some memecoin was a “pump and dump,” that the insiders who promoted the coin made a lot of money while later buyers lost money. There’s nothing else! That’s what this whole thing is! The whole pitch is “buy this coin while everyone is paying attention to it”; the whole game is knowing if you are buying in Minute 13 or Minute 15. I am aware that some memecoins have lockups or vesting schedules for their promoters, so the promoters can’t sell all their coins and tank the price too quickly, but the natural lifespan of attention is gonna tank the price pretty quickly anyway, and if the promoters aren’t making any money then what are they doing?
Anyway Donald Trump’s meme token — “$TRUMP” or “Trumpcoin” — is a somewhat unusual memecoin in that Trump has been getting attention for decades, and he does keep doing things. But the essential analysis is the same, just repeated. He does a thing, the token goes up, people sell it, it goes down. We have talked a couple of times recently about the latest thing, which is that he announced he would have a dinner party where he invited whoever bought the most Trumpcoin. “The democratization of … bribery,”
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