Trump Memecoins Spark Crypto Boom, But Risks Remain
Former US President Donald Trump's recent foray into the world of cryptocurrency has sparked a significant surge in interest. The launch of Trump Memecoins, including Trump Token (TRUMP) and Melania Meme (MELANIA), has driven Google searches for 'crypto' to their highest level since 2021.
The impact of Trump Memecoins on the crypto market has been substantial. A survey revealed that 42% of buyers were first-time investors in cryptocurrencies, indicating that Memecoins have reached a new audience previously unexposed to the digital asset class.
The launch also attracted new investors to the market. Before Trump's inauguration, the daily number of new Solana addresses reached nearly nine million, suggesting that the release of Memecoins drew in fresh capital.
However, the volatile nature of Memecoins became evident when prices dropped by 53% from their peak, leaving many investors with losses. Crypto scam investigator Coffeezilla suggested that the launch 'should be a crime', while California Representative Maxine Waters warned of potential national security risks.
The interest in crypto apps has also soared, with trading platforms like Crypto.com, Moonshot, and Coinbase dominating the finance category in the US Apple App Store.
The Trump Memecoins have undeniably sparked a new wave of interest in cryptocurrencies, attracting a fresh batch of investors. However, the significant risks associated with trading Memecoins have also been laid bare. As of now, there are no scheduled announcements of memecoins by another U.S. president or prominent figure.
Read also:
- Musk threatens Apple with litigation amidst increasing conflict surrounding Altman's OpenAI endeavor
- Transitioning to Electric Vehicles Places Heavy Demand on Power Grids
- E-mobility continues its progress after a decade since the scandal, staying on course
- Türkiye's August 2025 Trade Deficit Falls 15.8% Despite Export Drop
