TRUMP Will Kill DOGE, PEPE, SHIBA INU
President Donald Trump has been criticized for introducing a meme coin while claiming to be “naive” about cryptocurrency.
TRUMP’s token launch shocked the investment community. The digital currency TRUMP swiftly rose to prominence as one of the most valuable cryptocurrency coins on his social media accounts before his inauguration.
Trump’s token launch poses a huge threat to the meme space . Market data showed most of the top meme coins listed on popular crypto exchanges have lost at least a third of their value.
Critics claim that the President’s cryptocurrency windfall disincentives him from taking action against the sector, which could result in a billion-dollar decline in the value of his tokens. According to a Financial Times analysis, over 700 spam and copycat coins have been sent to Trump’s digital wallet by individuals ostensibly trying to imply that their products have his approval
It follows the president’s and his wife Melania’s introduction of meme coins, which are completely based on speculation and have no real-world application, just days before he returned to the White House last month.
Many are named after Trump or his family but are unrelated to the president. Examples include “OFFICIAL TRUMP” and “OFFICIAL MELANIA.”
Ethical issues also weigh on the token launch. President Trump is now directly involved in a sector of the world’s largest and most powerful economy. Legal experts and elected officials are voicing geopolitical and ethical concerns regarding the tokens, claiming they can be used for bribery and conflicts of interest.
Trump’s supporters and shrewd day traders have made billions of dollars in sales thanks to their devotion, excitement, and the opportunity to profit quickly. However, many holders are losing money, as the token has lost over two-thirds of its value since it breached $72 in January.
President Trump has minimized his contribution to the coin’s introduction, stating at a Jan. 21 press conference: “Aside from the fact that I launched it, I don’t know much about it.
Meanwhile, Cryptocurrencies were under pressure this month after President Trump threatened to change global trade dynamics. President Donald Trump’s executive order imposing tariffs on imports from China, Canada, and Mexico on January 31 caused market chaos. The action was sufficient to frighten investors and cause sell-offs in stocks and digital assets, even though the tariffs on Mexico and Canada are still on hold.
The new Trump administration is viewed with optimism by the cryptocurrency industry. President Trump promised a much more relaxed regulatory approach than President Biden’s administration, making it the “crypto capital of the planet.”.
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