The meme coin frenzy is driving crypto apps to the top spot in Apple’s US finance ranking. On January 22, crypto-related apps, including Crypto.com, Moonshot, and Coinbase, took the top three spots in the US App Store’s finance category. All this is taking place as TRUMP meme coin is also experiencing a surge.
Other crypto apps, including Coinbase Wallet, Robinhood, Binance US, DEX Screener, and Kraken, also rose to the top 30 free apps in the finance category.
TRUMP coin surge pushes crypto apps up the ranks
The rise in crypto app ranking is probably pushed by the TRUMP meme coin, which was launched on January 18. The meme coin has grown faster than anticipated, and within a few hours after its launch, the token hit a market cap of over $9 billion. The token further peaked at $14.5 billion before it started dropping. TRUMP coin market cap is $8.4 billion at the time of news.
While the Trump meme coin was still trending, First Lady Melania Trump launched the Melania meme coin (MELANIA), which has caught the interest of investors. The meme coin token has seen rapid growth, with its valuation hitting $6 billion within two hours of its launch.
The Moonshot app, which allows users to buy meme coins using Apple Pay, was not famous on January 1. The app ranked 309th in the US App Store’s finance category. Yet, after the launch of the Trump meme coin, the app jumped into the top spot. This pattern signified an intense increase in the interest in meme coins in the United States.
Another app that rose significantly is the DEX Screener, which jumped from the 102nd spot on January 1 to 21st by January 20. The DEX Screener is used by the crypto society to monitor price action. It is currently ranking 22nd among the top free finance apps.
According to Animoca Brands co-founder and executive chairman Yat Siu, “the meme coin’s current rate of increase in value is due to its excitement and the time of its launch.” Siu said that the novelty and interest in its launch—especially from supporters looking to cash in on the Trump brand—evidently led to its rapid rise in value.
Siu also noted that the meme coin could derive meaning if used for philanthropic purposes and that the TRUMP coin could be a barometer for public sentiment toward Trump’s presidency.
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