Is Barron Trump the brainchild of $TRUMP memecoin? What you need to know
Meme coins are used to build popularity for a viral internet trend or movement, but they lack intrinsic value and are extremely volatile investments. Hours after its launch, the value of the coins for $Trump reached nearly $5.5bn (£4.5bn), according to CoinMarketCap.com.
Trump launched a cryptocurrency token featuring his 'fight fight fight' gesture from the July assassination attempt which surged 300 per cent within hours after the launch creating billions from thin air before his return. «My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!» Trump wrote on his social media platform Truth Social as he announced the meme coin.
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Trump's former aide Anthony Scaramucci said Trump's meme coin us 'Idi Amin level' corruption'. Idi Amind was a Ugandan dictator who was ousted in 1979 for corruption, according to TOI. «The Trump meme coin stuff is bad for the industry. Don't delude yourself. It's Idi Amin level corruption,» he wrote.
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