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Nevertheless, $TRUMP turned out to be the genuine article [W3IGG], and so was the $MELANIA token that followed shortly after. Whoever launched the $MELANIA token perhaps thought they could replicate the successful $TRUMP cash-grab by simply doing the same thing all over again, not realizing that launching a second closely-linked token would directly compete with the first. Indeed, $TRUMP prices tanked 58% upon the $MELANIA launch [W3IGG]. The prices of both tokens have dwindled since, as memecoin prices often do. However, it seems to have succeeded in convincing even more people to get into crypto: an app called “Moonshot” briefly rose to the top of the app store rankings for free finance apps as Trump partnered with the platform to allow people to purchase his $TRUMP tokens using a debit card, Apple Pay, or Venmo.1 Moonshot’s Twitter account is full of celebratory tweets and retweets about onboarding more non-crypto users, with one tweet reading “Boomers have onboarded”,2 and a retweet of a person writing “my entire family including my 80 year old grandma is on” the app.3 While the crypto world has been loudly all in for Trump, his memecoin stunt was a bridge too far for some. Crypto venture capitalist and enthusiastic Trump supporter Nic Carter, who was attending the ball when the token was launched, told Politico, “It’s absolutely preposterous that he would do this ... They’re plumbing new depths of idiocy with the memecoin launch.”4

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Nevertheless, $TRUMP turned out to be the genuine article [W3IGG], and so was the $MELANIA token that followed shortly after. Whoever launched the $MELANIA token perhaps thought they could replicate the successful $TRUMP cash-grab by simply doing the same thing all over again, not realizing that launching a second closely-linked token would directly compete with the first. Indeed, $TRUMP prices tanked 58% upon the $MELANIA launch [W3IGG]. The prices of both tokens have dwindled since, as memecoin prices often do. However, it seems to have succeeded in convincing even more people to get into crypto: an app called “Moonshot” briefly rose to the top of the app store rankings for free finance apps as Trump partnered with the platform to allow people to purchase his $TRUMP tokens using a debit card, Apple Pay, or Venmo.1 Moonshot’s Twitter account is full of celebratory tweets and retweets about onboarding more non-crypto users, with one tweet reading “Boomers have onboarded”,2 and a retweet of a person writing “my entire family including my 80 year old grandma is on” the app.3 While the crypto world has been loudly all in for Trump, his memecoin stunt was a bridge too far for some. Crypto venture capitalist and enthusiastic Trump supporter Nic Carter, who was attending the ball when the token was launched, told Politico, “It’s absolutely preposterous that he would do this ... They’re plumbing new depths of idiocy with the memecoin launch.”4
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Molly White (molly0xfff@hachyderm.io)'s status on Saturday, 25-Jan-2025 02:12:07 JST Molly White
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Trump’s memecoin did not exactly receive a warm welcome from much of the crypto world, who were horrified that their crypto president would tarnish the industry’s sterling reputation by doing a blatant cashgrab.
#crypto #cryptocurrency #USpolitics #USpol

In conversation about 5 months ago from hachyderm.io permalink