Days before the January 20 US Presidential Inauguration Day, President Donald Trump and First Lady Melania Trump introduced their own memecoins TRUMP and MELANIA. Both tokens skyrocketed to billions of dollars in market cap within hours.
Fast forward to today, not much talk on social media involves any of the two coins. Is the hype for Trump family memecoins over? Sellers are voicing doubts about the tokens’ legitimacy and long-term viability, as they turn towards a new meme token frenzy, PEPETO, which is poised for 100x gains.
Trump’s Memecoin Feasibility Questioned
Just days before taking office, Trump and his family launched a cryptocurrency token called $TRUMP. The announcement came as the crypto industry celebrated his return to the White House with an inaugural ball.
Despite little information about the coin’s purpose, value, or risks, its price skyrocketed, quickly inflating the Trump family’s digital wealth by billions. Not to be outdone, Melania Trump followed suit with a meme coin of her own.
However, seasoned investors are staying away. Carson Block, the founder and chief investment officer of Muddy Waters Capital, dismissed meme tokens altogether.
Speaking to Yahoo Finance, Block stated, “These things have no intrinsic value. They’re just barometers of how much liquidity is out there, how much speculative frenzy is out there. Right now, all the signals are reading there’s a lot.“
While Trump supporters and crypto enthusiasts defend meme coins as a staple of the industry, critics argue that these tokens offer little real-world utility.
At the time of this publication, TRUMP was trading at $27.5, 30% down in the last week, and 63.48% far from its all-time high value of $75.
PEPETO Emerges as an Alternative
While #TrumpCoin memecoin hype cools off, a new entry, #Pepeto, is gaining traction. Positioned as a more promising investment, PEPETO is currently in its presale phase, priced at $0.000000107 per token. The project has already raised over $4 million, signaling strong investor confidence. Its appeal is further amplified by
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Author: AMBCrypto Team
