The Trump family’s tokens may set a precedent for memecoin investing and attract more retail interest in cryptocurrencies other than Bitcoin and Ether.
Bitcoin takes its cues from US President-elect Donald Trump’s inauguration, with new BTC price all-time highs joining a crypto volatility frenzy.
Despite mainstream appeal, the distribution of the Trump memecoins was flashing red flags for investors looking for long-term opportunities.
One crypto community member speculated that the Trump family may be “planning ahead,” while another said the move solves the Trump family’s “memecoin puzzle.”
The Donald and Melania Trump-backed memecoins that launched over the weekend have amassed a combined value of over $15 billion.
More than 400,000 traders were liquidated over the past 24 hours as Bitcoin plunged back below $100,000.
Melania Trump's memecoin launched after Donald Trump's official TRUMP token reached a $15 billion market cap before falling nearly 40%.
Many crypto influencers and financial analysts have characterized the TRUMP memecoin launch as a new era for capital formation.
The Official Trump memecoin aims for prices in the triple-digit range, while SOL, BTC, XRP, ALGO and XDC prepare for a breakout to new all-time highs.
TRUMP memecoin price could be headed toward $100 by the inauguration of President-elect Donald Trump on Jan. 20, BitMEX cofounder suggests.