When Donald Trump dabbled in memecoins last month, it set off a floodgate of imitators in the cryptocurrency market. With the re-elected US president’s entry into the cryptocurrency market, there has been a dramatic increase in the number of opportunistic tokens.
According to a Financial Times report, more than 700 imitators launched their currencies in the span of three weeks. A tangled web of tokens, from the audacious to the ridiculous, has landed in Trump’s digital wallet, leaving investors bewildered.
Copycats And Confusion: The Name Game In Crypto
The numbers paint a startling picture of opportunism in action. Among the 736 different memecoins analyzed, 192 brazenly incorporate the Trump family name, with 167 being direct copycats.
The audacity doesn’t stop there – 67 tokens have slapped the word “official” in their names, despite having no connection to the president. Some creators have even gone as far as minting coins named after Trump’s children, with 30 tokens featuring Barron’s name, 26 referencing Ivanka, and 10 mentioning Eric, FT disclosed.
Trump Coin: The Numbers Behind The Digital Deception
In the hazy world of cryptocurrency trading, looks can be deceiving. The “Official Barron Trump” coin is an example of this; although its potential value, based on its most recent transaction price, is an astounding $6 billion, the reality is far less impressive.
Trump’s memecoin inspires wave of copycats https://t.co/Z5gdmLVkfs
— Financial Times (@FT) February 7, 2025
Since January 21, there hasn’t been any trading activity on the cryptocurrency, and its biggest transaction was only around $240. The large discrepancy bet
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Author: Christian Encila
