On January 18, 2025, Donald Trump, the president-elect of the United States, announced the launch of his own cryptocurrency - memcoin called $TRUMP. This token was created on the Solana blockchain and presented as a digital asset that symbolizes support for the new president.
In the first days after launch, the value of $TRUMP rose from $10 to $72, resulting in a market capitalization of over $14 billion. However, after Melania Trump announced the launch of her own memcoin, $MELANIA, the value of Trump opped by about 50%
Trump's cryptocurrency launch sparked debate among experts. Some believe that these memcoins can be financial pyramids and a way of personal enrichment that combines political power with economic interests.
It is worth noting that memecoins often have no fundamental value and are created as a joke or to express support for a certain person or phenomenon. Therefore, investors should be cautious and carefully assess the risks associated with such assets.