In a surprising move, U.S. President Donald Trump has launched his own meme coin, $TRUMP, just days before his inauguration. The coin skyrocketed in value by over 40,000% shortly after its launch, only to see a sharp decline with the introduction of $MELANIA, a meme coin tied to the First Lady. This volatile debut highlights the speculative nature of meme coins, which often lack intrinsic value and rely heavily on social media hype.

Meme coins, like Dogecoin and Shiba Inu, are notorious for their dramatic price swings and susceptibility to pump-and-dump schemes. The $TRUMP coin raises even more concerns due to its centralized ownership—two Trump-linked companies control 80% of the supply—prompting fears of market manipulation and ethical conflicts.

While Trump’s crypto-friendly stance may signal broader adoption of digital assets, the $TRUMP coin serves as a reminder that not all cryptocurrencies are created equal. Investors should approach with caution, recognizing the potential for significant financial losses in the pursuit of speculative gains.

For a deeper dive into the risks, ethical debates, and implications of the $TRUMP meme coin, read the full article in my Globe and Mail column here.

The Trump meme coin is here: Expect the Wild West of the crypto world to get wilder
Meme coins are the manifestation of selling hype, predominantly driven by social-media trends and community sentiment, making them highly volatile and speculative
The Globe and Mail