Short-term price action doesn't tell the whole story
The launch of the $TRUMP meme coin, timed just days before President Donald Trump’s inauguration, has sparked a backlash not just from his critics but from within the crypto community.
The coin quickly gained traction in the alt-coin market, with its value surging from $10 to over $70 within the first 48 hours. The coin, along with a $MELANIA coin launched by First Lady Melania Trump, has been marketed as a celebration of their MAGA movement and a symbol of winning.
The rapid rise and subsequent volatility of these coins (extreme, even by the standards of your average meme coin) have raised eyebrows and led to widespread criticism.
Most notably, many of the critics have been from within the crypto community — those who had appeared most enthusiastic about Trump’s second term in office and the prospect of crypto-friendly policies that he’d made on the campaign trail.
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