Donald Trump's launch of $TRUMP meme coin has generated both enthusiasm and concern in the cryptocurrency market. The coin experienced a rapid surge in value upon its debut, reaching a market cap of nearly $5.5 billion. However, experts warn about its potential volatility and the risks associated with meme coins, citing past examples of sudden value drops and rug-pull schemes. While $TRUMP benefits from Trump's political prominence, its long-term sustainability remains uncertain.
Following the launch of Donald Trump ’s meme coin, $TRUMP, the cryptocurrency market has been abuzz with excitement and skepticism. Announced on January 17 via a post on X, the coin saw an explosive debut, quickly reaching a market cap of nearly $5.5 billion and tripling in value within hours. Despite this initial success, experts have raised concerns about its sustainability, highlighting the volatile nature of meme coins.
Andre Witzel, a cryptocurrency expert at BinaryOptions.com, cautioned against high expectations for $TRUMP’s long-term performance. “Meme coins often rise and fall sharply based on social media trends. While $TRUMP has gained traction due to Donald Trump’s political prominence, its long-term sustainability remains uncertain,” Witzel said.
Shiba Inu coin ranked second, with 526,050 average monthly searches. Released in 2020, SHIB has seen a surge in value, also linked to Musk’s influence. The coin currently holds a market cap of $11.8 billion. PEPE coin, inspired by the viral Pepe the Frog meme, secured third place with 63,900 average monthly searches and a market cap of $6.27 billion.
Finance CRYPTOCURRENCY MEME COINS DONALD TRUMP $TRUMP VOLATILITY
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