Indeed, the traders most affected by the erosion of the token’s value remain first-time investors. “These are largely new retail buyers,” said the blockchain analytics firm

Days before his inauguration, President Donald Trump unveiled his own cryptocurrency called $TRUMP. The move raised eyebrows among experts in the field as it may entail a conflict of interest or undermine the adoption of the emerging technology.

The launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.

President Donald Trump and First Lady Melania Trump both launched meme coins on Monday, but experts say they may not be reliable investments.

Meme coins have always been divisive, but Trump and Melania’s entry into the space seems to be pushing some retail investors over the edge. A recent Stocktwits poll reveals that 31% of retail investors feel that the creation of these meme coins is driving their dislike for the crypto market,