Donald Trump is making headlines right now for two reasons. The first reason is that Trump was sworn in as the 47th President on January 20th. The second reason is that he and the First Lady, launched meme coins just before his swearing-in ceremony. His meme coin is $TRUMP and has soared in market capitalization to several billion dollars. After two days, his wife Melania Trump also launched her cryptocurrency $MELANIA. Several crypto enthusiasts are anticipating landmark changes in the cryptocurrency industry starting from proper regulations to mass adoptions of cryptocurrencies due to official state support.
Donald Trump Launches Meme Coin $TRUMP
On January 18, US President Donald Trump launched his meme coin $TRUMP and at the time of writing this article it rose astonishingly high. It attracted billions of dollars of investment. At one point, it was trading at over $60 and then spiked at $75. The market capitalization has been very impressive. Within less than two days, the capitalization was over 64 percent. Currently, over 200 million $TRUMP is in circulation. The coin is traded on the Solana blockchain.
Melania Trump Launched Meme Coin $MELANIA
Donald Trump’s meme coin suffered a mild dip in price as soon as his wife Melania launched her meme coin $MELANIA. Within a few minutes, the price of the meme coin was trading at over $70 on Sunday afternoon. In the early hours of Monday morning, the meme coin was trading at over $12.
Significance of Their Meme Coins
The future of $TRUMP and $MELANIA is bright right now, as it has generated a lot of enthusiasm. However, the symbolic significance of these two meme coins cannot be understated. This is perhaps the first time in the history of cryptocurrencies, that an elected President days before his inauguration launched his meme coin. It is driven by a genuine interest in boosting the popularity and acceptance of cryptocurrencies. Throughout his election campaign, Trump was openly promoting cryptocurrencies such as Bitcoin and even had closed-door meetings with cryptocurrency enthusiasts. The Trump administration promises to bring in new liberal crypto-friendly regulations and appoint pro-crypto figures in his administration. His endorsement of meme coins is also an indication that his key allies are well aware of its advantages. The main two advantages of meme coins are they are alluring and are fun to learn about blockchain and cryptocurrencies. Secondly, these are economical and are therefore accessible to more investors.
Related: Donald Trump Could Bring Massive Changes in The Existing Crypto Policies
Conclusion
Donald Trump’s second Presidency may turn out to be the most memorable moment for the entire cryptocurrency industry. If his regime openly backs cryptocurrencies, frames pro-crypto regulations, and encourages ordinary people to invest in these, then it can lead to the enormous expansion of the industry. Moreover, these changes can have a positive impact on the most secure crypto trading platform in India. People may soon start perceiving cryptocurrencies as the most workable alternative to fiat currencies and digital currencies.