US President-elect Donald Trump has launched a brand new cryptocurrency token simply earlier than his inauguration to the highest submit that’s due on Monday, drawing reactions from netizens.
The $Trump memecoin has been hovering in worth, and doubtlessly boosting his web value. It’s the most recent norm-defying promotion by Trump, who has additionally helped promote branded bibles, gold sneakers and diamond-encrusted watches.
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“It’s time to have fun the whole lot we stand for: WINNING! Be part of my very particular Trump Neighborhood,” Trump stated in a social submit late Friday selling the brand new tokens.
The Trump memecoins are marketed with an image of Trump holding a fist up superimposed over the phrases “FIGHT FIGHT FIGHT,” a reference to Trump’s response to an assassination try at a political rally in July final 12 months.
In selling the meme coin, Trump advised supporters to “Have Enjoyable!”
The web site promoting the tokens has stated that they’re meant as expressions of help and never an funding alternative.
That hasn’t stopped folks from attempting to make cash. The Trump meme cash began promoting for $10 every earlier than hovering to as excessive as about $70 as of Sunday morning. It fell sharply later Sunday after Trump and his spouse, Melania Trump, posted a couple of meme coin for her personal named $Melania . The Melania coin was buying and selling for round $5 Sunday afternoon.
How did social media react to the brand new Donald Trump memecoin?
Social media reacted to the Donald Trump memecoins in quite a lot of methods. Whereas for some, it was a brand new approach of funding and enjoyable, others identified the absurdity of all of it.
Listed here are a couple of reactions:
“The $TRUMP memecoin — a monetary asset that did not exist on Friday afternoon — now accounts for about 89% of Donald Trump’s web value,” journalist Mehdi Hasan wrote on X.
“If Joe Biden had launched a memecoin as President-elect, Fox Information would have been masking it relentlessly for 4 straight years, Republicans would have moved to question him on day one, and Trump would have been main rallies chanting, “Lock him up.”,” social media personalities Ed Krassenstein stated concerning the tokens.
A consumer identified that the coin’s web site says that it’s not an funding alternative.
“Driving to work understanding there’s a 15 12 months outdated who made $25 million on Trump’s memecoin,” a consumer wrote whereas sharing a meme.
“Me shopping for Trump’s memecoin after watching its market worth go from $0 to $10 billion in lower than 2 hours,” one other consumer stated.
