Trump launches meme coin, apparently makes more than $25 billion overnight

[cadoman]

23. no, it's just trading at that valuation

This occurs on instruments when liquidity is low. Say you have a supply of 200 million, but only 50k of it's actually being traded. Small fish can pass that 50k around at extreme valuations--and some of them will profit--but it's a bit of an illusion because there is a whale sitting in the background not participating.

Folks just don't have that much money to spend on stuff like this. I'd expect the amount that's traded to be in the low millions. Consider that a candidate for POTUS struggles to raise just $1 billion with a full team and the country's full attention.

One of the fun things about Solana is you can actually browse the activity and get an idea of how ownership sits:

https://solscan.io/token/6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN#analytics