Is Trump about to issue another cryptocurrency? 🤔 I woke up today to see news about Truth Social planning to launch a platform token. To be honest, I’m not very optimistic about it. How many people are expecting it to replicate $TRUMP’s success? Here’s my take: The reason $TRUMP performed well was due to sentiment, the expectations brought by the election cycle, and the attention generated by Trump’s personal brand and controversy. Essentially, it was more like a politically symbolic MEME token rather than a token with practical utility. Simply put, its rise wasn’t based on product logic but on the traffic and speculative sentiment driven by the name "Trump." However, platform tokens are a different story. Platform tokens are about ecosystems, user numbers, transaction volumes, fee discounts, governance, and so on. Truth Social isn’t an on-chain product, and Web3 users don’t have much interaction demand on it. This so-called "platform token" is essentially just an excuse to raise money. It’s not because the app needs a token to function. They could have empowered $TRUMP instead, so why choose to issue a new token? The First Lady’s token is a great comparison. It had the buzz but no clear path to fulfill expectations, and the capital wasn’t willing to truly commit. In the end, it was just a one-off hype cycle. So, I think it’s crucial not to use $TRUMP’s success as a template for Truth Social’s token. It’s not a model; it’s an anomaly, or even an extreme case of unreplicable sentiment.