Trump’s HAIR Coin Price Skyrockets As Political Meme Tokens Are All The Rage – But Is This Other Coin A Better Choice?

Last Updated: May 23, 2024 11:15am EDT | 3 minute read

Trump’s hair coin exploded by 19,000% over the past 24 hours, with the Solana-based cryptocurrency becoming the latest political meme to storm the charts today.

Listing on the Raydium DEX in the early hours of the morning, HAIR quickly became the best performing coin of the day, with just over 1,500 holders and counting.

However, after peaking at $0.000680 a few hours after listing, it has since fallen to $0.0001708, a decline of 75%.

But while it may already be on the verge of collapsing, there are other more fundamentally sound new meme tokens on the market, with Dogeverse having raised over $15 million in its pre-sale.

Trump’s HAIR coin price skyrockets as political meme tokens are all the rage

Yesterday we reported on the rise and fall of DogWifMAGA Coinanother token with political references listed on Rayidum with great fanfare, before falling like a lead balloon.

Well, it appears that HAIR has quickly come to take its place, with the coin actually remaining well above its launch price.

Source: DEXTools/TradingView

That said, the chart above shows that its current price is well down from its peak in the early hours of the morning.

It has risen slightly over the past hour, but as its history since 06:00 has shown, today it has seen some slight and temporary rebounds, but that hasn’t really reversed its decline.

Also significant is the fact that its volume has all but disappeared, another clear sign of a struggling token that has failed to attract broader interest.

It is for this reason that it would be sensible to avoid HAIR, even though it could potentially enjoy a resurgence in the future, should interest in Trump and the upcoming election drive demand for a tangentially related meme coin.

At the moment his online presence is rather minimal, consisting of an X account with just over 6,000 followers and a Telegram account with 135 subscribers.

This is certainly not a sufficient community to support and direct new investors to HAIR, which may therefore struggle to recover from the current decline from its peak price.

And in a market flooded with disposable meme tokens, it is currently doing or offering enough to stand out from the crowd.

Is this other coin a better choice?

One of the big problems with HAIR is that, as a pure meme currency, it has no fundamentals or utility to speak of.

Fortunately, there are a variety of new and promising meme tokens that offer the fundamentals, and many of these are currently holding pre-sales.

One of the best of these is Dogeverso (DOGEVERSE)a multi-chain cryptocurrency that has raised over $15 million with its wildly popular token offering.

Source: Dogeverse

As the market’s first Doge-themed multi-chain cryptocurrency, DOGEVERSE will run on Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base.

Because it will run on multiple chains, it could attract usage and adoption across a much greater number of apps and platforms than it would if it were just a single-chain token.

By extension, higher adoption should equate to a higher price, and another good thing about DOGEVERSE is that its supply is limited to 120 million tokens.

In theory, this means that DOGEVERSE could become a deflationary token, while the ability to stake the coin could cause a large percentage of its supply to leave circulation.

It is clear that these features have contributed to making Dogeverse already a popular coin, and not only in the sense that its pre-sale raised over 15 million dollars.

Also boasts over 21,000 followers on Xeven though his account is only a month old.

Although its sale will end soon, investors can join via the official Dogeverse website.

1 DOGEVERSE is selling at a final selling price of $0.00031, with its initial popularity suggesting that this could rise much higher once listed, and stay high.

Buy DOGEVERSE today

Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.

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