Melania coin’s debut on Sunday led to a “sharp drop in the price of ‘Trump coin,’ sparking concerns from crypto industry executives who fear meme coins could harm the market,” reported Siladitya Ray of Forbes.
Trump’s launches are “now clearly a scourge that we will have to work to leave behind as builders,” said Rob Hadick, general partner at crypto-focused venture capital firm Dragonfly Capital. Bloomberg.
Meme coins are a type of cryptocurrency typically inspired by Internet memes, often a pop culture image or trend. One of the most famous memes featured the Japanese dog Kabosu, who became a populationI amme online in the early 2010s.
