Summary
Donald Trump’s meme cryptocurrency, $Trump, surged to a $14 billion market cap after launch but fell by over 50% after Melania Trump introduced her own token, $Melania, diverting investor interest.
$Trump partially recovered to $64 while $Melania reached a $13 billion valuation.
The tokens, marketed by Trump-controlled companies, sparked debate over their speculative nature, market volatility, and potential conflicts of interest.
Trump’s pro-crypto stance and promised deregulation have boosted digital currencies, though critics question the ethics of profiting from political office.
I was curious what the official supposed purpose of these tokens was, since i have a hard time believing anyone would seriously see themselves buying anything with these at any point. The official website is hilarious. They’re not claiming any purpose at all, you’re just buying an “official meme”:
The grift is fully out in the open I guess.
The new NFT. Buy this all but useless image.
Um, ackshually, these tokens are not NFTs, because NFTs are non-fungible, and these are fungible tokens. Still equally useless, though.