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‘$0 to $10 billion in…’: Netizens on Donald Trump's meme coins
The Trump memecoins are marketed with a picture of Trump holding a fist up superimposed over the words “FIGHT FIGHT FIGHT”.
US President-elect Donald Trump has launched a new cryptocurrency token just before his inauguration to the top post that is due on Monday, drawing reactions from netizens.
The $Trump memecoin has been soaring in value, and potentially boosting his net worth. It’s the latest norm-defying promotion by Trump, who has also helped sell branded bibles, gold sneakers and diamond-encrusted watches.
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“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” Trump said in a social post late Friday promoting the new tokens.
The Trump memecoins are marketed with a picture of Trump holding a fist up superimposed over the words “FIGHT FIGHT FIGHT,” a reference to Trump’s response to an assassination attempt at a political rally in July last year.
In promoting the meme coin, Trump told supporters to “Have Fun!”
The website selling the tokens has said that they are meant as expressions of support and not an investment opportunity.
That hasn’t stopped people from trying to make money. The Trump meme coins started selling for $10 each before soaring to as high as about $70 as of Sunday morning. It fell sharply later Sunday after Trump and his wife, Melania Trump, posted about a meme coin for her own named $Melania . The Melania coin was trading for around $5 Sunday afternoon.
How did social media react to the new Donald Trump memecoin?
Social media reacted to the Donald Trump memecoins in a variety of ways. While for some, it was a new way of investment and fun, others pointed out the absurdity of it all.
Here are a few reactions:
“The $TRUMP memecoin — a financial asset that didn't exist on Friday afternoon — now accounts for about 89% of Donald Trump's net worth,” journalist Mehdi Hasan wrote on X.
“If Joe Biden had launched a memecoin as President-elect, Fox News would have been covering it relentlessly for four straight years, Republicans would have moved to impeach him on day one, and Trump would have been leading rallies chanting, “Lock him up.”,” social media personalities Ed Krassenstein said about the tokens.
A user pointed out that the coin’s website says that it is not an investment opportunity.
“Driving to work knowing there’s a 15 year old who made $25 million on Trump’s memecoin,” a user wrote while sharing a meme.
“Me buying Trump’s memecoin after watching its market value go from $0 to $10 billion in less than 2 hours,” another user said.
