The elected head of state presented the TRUMP coin on January 17, while his wife Melania announced the release of her memcoin MELANIA on January 19. The price of Trump's new asset reached $15 billion, but subsequently temporarily fell below $8 billion as attention focused on Melania's token, according to data from the CoinMarketCap platform.
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Comic cryptocurrencies like Dogecoin (with the image of a Shiba Inu dog) offer a low internal price and have high volatility, and, according to a number of experts, scare off large investors and harm the overall image of the market. Memecoins rely on the occasional support of social media, which can disappear as quickly as it appears, Bloomberg emphasizes.
The industry expects Trump to take decisive steps to develop the industry after he takes office on Monday, including an expected executive order declaring cryptocurrency a national priority.
