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- The search for crypto-related keywords attained new heights on Google.
- The industry got a massive boost recently from the TRUMP and MELANIA memecoin launches.
Google search interest for “crypto” reached a three-year high recently, fueled by President Donald Trump’s newly launched memecoins. Trump introduced an official memecoin project on January 18, just days before his inauguration as President of the United States.
Trump Memecoins Take the Spotlight
As outlined in a CNF recent blog post, the “Trump bomb” memecoin experienced a 28,000% increase in just 36 hours of launching. Accordingly, the market capitalization soared to $12 billion, representing the start of a wave of high-profile memecoin.
Subsequently, First Lady Melania Trump also launched a self-titled memecoin, MELANIA. Upon launching, MELANIA surged by 24,000% to reach a market cap of $5.2 billion before eventually dropping to current levels.
Google Trends data shows a surge in search interest for “crypto” following Trump’s memecoin announcement. The term peaked in November 2021, when Bitcoin (BTC) hit an all-time high of over $67,000.
The search interest for the keywords “buy crypto,” “memecoin,” and “Solana” all had similar surges in search interest following the Trump family memecoin launch. Besides the rising search interest, the Trump memecoin drew increased interest in crypto-related apps.
Crypto-focused applications dominated the finance category of Apple’s App Store in the US on January 22. The top three searched applications include crypto trading platforms Coinbase, Crypto.com, and Moonshot. Other apps that ranked among the top 30 free apps in the category are Robinhood, Binance.US, Coinbase Wallet, Kraken, and DEX Screener.
Furthermore, the frenzy surrounding Trump’s memecoin also caused new Solana addresses to reach an all-time high. The daily number of new Solana addresses reached nearly nine million before Trump’s inauguration, according to data from digital asset custody service Copper.co.
As featured in CNF’s recent coverage, the appeal for Solana-based memecoins lies in their potential to turn small investments into huge gains. In a recent update, CNF covered an Ethereum address linked to Donald Trump generated $1 million in profits from a memecoin.
In addition to increasing Solana’s popularity and crypto apps, Trump’s recently introduced memecoin also drew in new crypto investors. According to a study by NFT Evening on January 20, 42% of Trump memecoin buyers were first-time crypto buyers.
Market Analysts Raise Concerns over Trump’s Widespread Memecoin
The launch and widespread attention of the Trump memecoin has ignited reactions from the crypto community. Some market analysts and players see the move as good since it places crypto in the limelight.
Others, however, think the memecoins come with their risks. Crypto scam investigator Coffeezilla said the memecoin launch “should be a crime.” California Representative Maxine Waters also warned lawmakers that Trump’s memecoin may pose a national threat.
Furthermore, Massachusetts Senator Elizabeth Warren called for an ethical investigation into the TRUMP and MELANIA memecoins.
