Cryptoniteuae
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Trump and Melania Drop Meme Coins, Sparking Crypto Frenzy and Backlash
Meme coins have officially entered the political arena. Just one day before President-elect Donald Trump’s inauguration as the 47th U.S. President, he and First Lady Melania Trump launched their meme coins—Official Trump (TRUMP) and Melania Meme (MELANIA)—triggering a whirlwind of reactions across Crypto Twitter.
TRUMP and MELANIA's Meteoric Rise
The newly launched TRUMP meme coin shot up to a fully diluted valuation (FDV) of $72 billion, while MELANIA surged an eye-watering 12,000% within hours of its release, according to DexScreener data. Despite this initial frenzy, the pair of launches created a liquidity drain that left the broader crypto market on edge. Bitcoin (BTC) remained steady, but altcoins struggled to recover.
Popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) saw declines of 7% and 6%, respectively, over the last 24 hours. Even Pepe Coin (PEPE) faced a sharper pullback, dropping by 12.6%, according to CoinGecko data.
Polarizing Reactions: Celebration and Criticism
Reactions to the launch were polarized, with opinions ranging from excitement about mass adoption to sharp critiques of ethics and execution. Arthur Hayes, co-founder of BitMEX, rallied his followers to push $TRUMP to a $100 billion market cap, writing, “Degens, let’s celebrate the emperor by sending his meme coin to 100 Billy by Monday” on X (formerly Twitter).
On the other hand, the launches garnered heavy criticism from various figures in the crypto space. YouTuber Coffeezilla, known for exposing crypto scams, expressed his outrage, saying, “80% of tokens vest to insiders DURING the presidency... should be a crime, but crime is legal now, I guess?” He slammed the coin debuts as unethical and exploitative.
William Scythe, founder of Alpha Prime Capital, condemned Trump for using his presidency to launch a meme coin, accusing him of prioritizing personal gain over public service. “This is a very sad day for America when the President realizes he can scam people himself,” Scythe wrote. “Going from the most anti-crypto to a crypto maniac... scamming his MAGA cult with $TRUMP coin.”
Melania’s Token Faces Sharp Backlash
Melania’s $MELANIA token encountered even more intense backlash. Conor Grogan, head of product business operations at Coinbase, criticized the launch, stating, “This token was handled by a less professional team... the creator wallet was funded via a Solana memecoin launchpad.”
For some in the crypto world, the incident signaled possible regulatory changes. Caitlin Long, CEO of Custodia Bank, suggested that Trump’s move might push the U.S. government to rethink its stance on crypto taxation. "WELL, one of the side effects of meme-coining is that Trump now has a real incentive to change the taxation of #crypto in the US," she tweeted.
Mixed Sentiment on the Launch
While some saw the moment as a step forward for crypto, others viewed it as a step backward. Gafoor Khan, co-founder of lending platform ZeroLend, wrote on X, “This isn’t onboarding. This isn’t education. This isn’t how we build a better future. We have to do better.”
Meanwhile, many traders reflected on past warnings from SEC Chair Gary Gensler, acknowledging that the crypto space’s current state might undermine its credibility. Pseudonymous trader Ash Crypto tweeted: “I think we all need to say this: we are sorry Gary Gensler, you were right, our space is a joke.”
Hope for the Future
Despite the chaos, some traders remained optimistic about the future. Daan Crypto, a crypto trader, wrote: “I think the market might enjoy this more than you think in the weeks to come... especially when something happens where they bring the Trump coin to several chains (including ETH), which would make the entire market go crazy.”
As meme coins and political figures intersect in the crypto space, the market eagerly awaits the next moves in this ongoing saga. Will the launch of TRUMP and MELANIA represent a bold new chapter for meme coins, or will they be a fleeting moment in the
$TRUMP #TrumpMarketWatch #MelaniaTrumpLaunchesToken #BTCBreaksATH
TRUMP and MELANIA's Meteoric Rise
The newly launched TRUMP meme coin shot up to a fully diluted valuation (FDV) of $72 billion, while MELANIA surged an eye-watering 12,000% within hours of its release, according to DexScreener data. Despite this initial frenzy, the pair of launches created a liquidity drain that left the broader crypto market on edge. Bitcoin (BTC) remained steady, but altcoins struggled to recover.
Popular meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) saw declines of 7% and 6%, respectively, over the last 24 hours. Even Pepe Coin (PEPE) faced a sharper pullback, dropping by 12.6%, according to CoinGecko data.
Polarizing Reactions: Celebration and Criticism
Reactions to the launch were polarized, with opinions ranging from excitement about mass adoption to sharp critiques of ethics and execution. Arthur Hayes, co-founder of BitMEX, rallied his followers to push $TRUMP to a $100 billion market cap, writing, “Degens, let’s celebrate the emperor by sending his meme coin to 100 Billy by Monday” on X (formerly Twitter).
On the other hand, the launches garnered heavy criticism from various figures in the crypto space. YouTuber Coffeezilla, known for exposing crypto scams, expressed his outrage, saying, “80% of tokens vest to insiders DURING the presidency... should be a crime, but crime is legal now, I guess?” He slammed the coin debuts as unethical and exploitative.
William Scythe, founder of Alpha Prime Capital, condemned Trump for using his presidency to launch a meme coin, accusing him of prioritizing personal gain over public service. “This is a very sad day for America when the President realizes he can scam people himself,” Scythe wrote. “Going from the most anti-crypto to a crypto maniac... scamming his MAGA cult with $TRUMP coin.”
Melania’s Token Faces Sharp Backlash
Melania’s $MELANIA token encountered even more intense backlash. Conor Grogan, head of product business operations at Coinbase, criticized the launch, stating, “This token was handled by a less professional team... the creator wallet was funded via a Solana memecoin launchpad.”
For some in the crypto world, the incident signaled possible regulatory changes. Caitlin Long, CEO of Custodia Bank, suggested that Trump’s move might push the U.S. government to rethink its stance on crypto taxation. "WELL, one of the side effects of meme-coining is that Trump now has a real incentive to change the taxation of #crypto in the US," she tweeted.
Mixed Sentiment on the Launch
While some saw the moment as a step forward for crypto, others viewed it as a step backward. Gafoor Khan, co-founder of lending platform ZeroLend, wrote on X, “This isn’t onboarding. This isn’t education. This isn’t how we build a better future. We have to do better.”
Meanwhile, many traders reflected on past warnings from SEC Chair Gary Gensler, acknowledging that the crypto space’s current state might undermine its credibility. Pseudonymous trader Ash Crypto tweeted: “I think we all need to say this: we are sorry Gary Gensler, you were right, our space is a joke.”
Hope for the Future
Despite the chaos, some traders remained optimistic about the future. Daan Crypto, a crypto trader, wrote: “I think the market might enjoy this more than you think in the weeks to come... especially when something happens where they bring the Trump coin to several chains (including ETH), which would make the entire market go crazy.”
As meme coins and political figures intersect in the crypto space, the market eagerly awaits the next moves in this ongoing saga. Will the launch of TRUMP and MELANIA represent a bold new chapter for meme coins, or will they be a fleeting moment in the
$TRUMP #TrumpMarketWatch #MelaniaTrumpLaunchesToken #BTCBreaksATH
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