Is Donald Trump looking to endear himself further to the $2.5 trillion crypto industry with the launch of a new crypto token called "Trump Coin"? That’s the buzz, according to crypto industry participants, as Trump ramps up his campaign for the November presidential election. Industry experts are trying to figure out the origins of a so-called meme token registered on the Solana blockchain platform under the symbol "DJT," and the moniker "Trump Coin.
Like meme stocks, meme tokens are inspired by extraneous factors such as internet trends and pop culture references. Although some of the most famous meme coins like Dogecoin and Shiba Inu were originally created as a joke, their popularity and cult-like followings have accelerated the total meme coin market cap to a staggering $50 billion.
coin, which operates under the ticker TRUMP, is currently the most popular political meme coin trading at just over $9 with a market cap of over $400 million. The price of the token dropped on the news of the launch of Trump Coin. Another Trump-inspired meme coin trades under the letters TROG; it accompanies a cartoon of a frog with a MAGA hat on. Much smaller in comparison to MAGA, it has a market cap of $7.38 million and also fell on the news of the Trump Coin launch.
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