Donald Trump’s new cryptocurrency $Trump, launched on 18 January ahead of the US presidential inauguration, experienced a sharp surge in value this week before plummeting, sparking conversations about the volatility of the rapidly growing meme coin market.
Amanda He, Chief Investment Officer of ChainUp Investment shared her insights in a Financial News article that “while these tokens generate considerable buzz and trading activity, it’s crucial to recognize that they are often fuelled by social media sentiment rather than solid fundamentals.”
Trump’s new coin has lost 48% of its value since 19 January. Meanwhile, Bitcoin hit an all-time high of almost $109,000 on 20 January, the same day Trump took office, signaling a positive attitude of Trump administration towards crypto assets.
Read the full Financial News article here:
