⇗ Trump's Meme Coin Revs Up The Crypto World: Controversies, Momentum & Warnings
Recent events in the world of cryptocurrency have centered heavily on the controversial Meme Coin backed by the former US president, Donald...
A recent spate of news articles indicates the continuing saga and mixed fortunes of the so-called Trump Meme Coin. Noteworthy is that 58 crypto wallets made staggering profits, however, data shows that the majority, over 764,000 wallets, have experienced losses. Allegedly, foreign interests have heavily invested in the coin, leading to concerns about corruption and ethics.
Significant profits have been made by anonymous traders who, in anticipation, bought Melania Trump's memecoin before its launch, raking in nearly $100mn. The Meme Coin business is pulling in fees as buyers scramble for access to Trump, even as the chance to dine with Trump for a hefty price of $1.5m per plate is met with backlash.
Attempts by Democrats to target the coin along with proposals to legislate against it are just some of the actions taken, with senators worrying that the private dinner being offered could also be attended by foreign nationals. Additionally, Trump’s foray into the crypto market has been called a 'profoundly corrupt' scheme while threatening the passing of a bipartisan stablecoin bill.
Other meme coins have also experienced increased volatility, with Dogecoin's price going up due to political buzz, and NPC Crypto and $MOG being speculated for a major price breakout. Coupled with concerns about Elon Musk's waning influence over meme coins, the market remains volatile and unpredictable.
MEME Coin News Analytics from Mon, 21 Apr 2025 07:00:00 GMT to Wed, 07 May 2025 22:40:49 GMT - Rating -5 - Innovation -8 - Information 7 - Rumor -4