Trump memecoin frenzy pushes crypto apps to the top App Store ranks

Crypto-related apps have taken over the top spots in the finance category of Apple's App Store in the United States.

Cryptocurrency apps have surged to the top of the finance category in the United States Apple App Store.

Three of the top applications in the US App Store's finance category on Jan. 22 were crypto-related. These included digital asset trading platforms Crypto.com, Moonshot and Coinbase.

Other cryptocurrency apps that ranked within the top 30 free apps in the finance category included Coinbase Wallet, Robinhood, Binance.US, DEX Screener and Kraken.

Trump memecoin frenzy pushes crypto apps to the top App Store ranks

The rise in crypto app rankings coincided with the launch of President Donald Trump’s Official Trump (TRUMP) memecoin on Jan. 18. A few hours after the launch, the token hit a market cap of over $9 billion, peaking at around $14.5 billion before experiencing a correction. At the time of writing, the token has a market cap of $8.3 billion.

Following the move by the newly inaugurated US president, First Lady Melania Trump also released a self-titled memecoin that garnered the attention of investors. The meme token hit a valuation of about $6 billion within two hours of its launch.

On Jan. 1, the Moonshot app, which allows users to buy memecoins using Apple Pay, was ranked 309th in the US App Store's finance category. However, just a day after Trump's memecoin launch, it hit the top spot, signaling a surge in interest in memecoins in the US.

In a related development, DEX Screener, a tool for monitoring token price action, also saw a rise in popularity. It climbed from the 102nd spot on Jan. 1 to 21st by Jan. 20.

Trump’s memecoin could act as a tool to measure public sentiment

In a statement sent to Cointelegraph, Animoca Brands co-founder and executive chairman Yat Siu said the TRUMP memecoin could be used to gauge the people's sentiments toward the Trump administration.

“This memecoin could be a tool to measure the people's sentiments towards the Trump administration and presidency,” Siu noted, adding that the token also has the potential to be used for philanthropic activities.

“Philanthropy could transform a memecoin into a movement with meaningful real-world impact, fostering goodwill and setting a new standard for political engagement in the digital age,” said Siu.