Meme Coin Frenzy Sparked by Whale’s $19 Million Wager and Trump’s Support for Crypto

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Meme Coin Frenzy Sparked by Whale’s $19 Million Wager and Trump’s Support for Crypto

Bitget-RWA2025/11/17 07:34

By:Bitget-RWA

- A crypto whale injected $19.86 million into 22 meme coins in one hour, reflecting heightened speculative activity amid Trump-era crypto-friendly policies. - Trump-linked Bitcoin miner Hut 8 Corp reported 460% revenue growth, leveraging low-cost operations and 4,004 bitcoins ($400M value) to capitalize on market trends. - Canary Capital's MOG ETF filing triggered a 17% market cap surge for the meme token, highlighting institutional interest in community-driven crypto assets. - Analysts warn of regulatory

On the 22nd, a whale invested $19.86 million into long positions across 22

meme

coins within just one hour,

as reported by on-chain analyst Ai Auntie

, highlighting a resurgence of speculative activity in the unpredictable crypto sector. This action aligns with ongoing trends in meme coin popularity, evolving regulations, and political changes that are influencing the digital currency environment.

The Trump administration’s supportive approach to cryptocurrency has fueled greater institutional engagement, with

American Bitcoin-a mining company supported by Donald Trump’s sons

announcing a 460% jump in quarterly revenue, reaching $64.2 million. The firm, which operates under

Hut 8 Corp

, credited its success to efficient mining practices and well-timed

bitcoin

acquisitions, maintaining a reserve of 4,004

bitcoins

worth $400 million.

Meme Coin Frenzy Sparked by Whale’s $19 Million Wager and Trump’s Support for Crypto image 0

Eric Trump, the company’s co-founder, pointed out that “scalable, asset-light mining operations” provide a significant advantage as industry profit margins shrink. The Trump family’s involvement in crypto, including a meme coin and

World Liberty Financial

, is consistent with the administration’s goal to establish the U.S. as a leader in the global crypto market.

At the same time,

Canary Capital’s application for a Mog Coin (MOG) ETF

has sparked a rally in the little-known meme token. The ETF submission to the SEC boosted MOG’s market cap from under $140 million to $169.5 million before settling at $146.3 million. Even though MOG trades for less than a cent and has dropped over 80% in the past year, the ETF’s potential to bring meme coins into mainstream investing has attracted interest. Canary Capital, which has also filed for SEI and Official Trump ETFs, is leveraging the cultural and community-driven nature of memecoins. This development comes after Trump’s recent resolution to end the government shutdown, which is expected to speed up SEC assessments of crypto financial products.

The whale’s bold bets on meme coins demonstrate a growing preference for high-risk, high-reward assets during times of economic uncertainty. While meme coins generally lack fundamental utility, their worth is increasingly linked to branding and speculative hype. Analysts say the Trump family’s involvement, Canary Capital’s ETF moves, and the administration’s regulatory stance are combining to create ideal conditions for crypto adoption. Still, skeptics caution about regulatory challenges and price swings, especially as the SEC maintains strict oversight of token launches.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Bitget-RWA•2025/11/17 09:34

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