Trump memecoins set to be sued — to what end?
Lawyers are counting on a flood of lawsuits to pile up against $TRUMP, but what hope do they have in court?
Just days before US President Donald Trump’s inauguration, the crypto industry was taken relatively by surprise with the launch of Official Trump (TRUMP), which was swiftly followed by Official Melania (MELANIA) — two memecoins launched by the first family that have pumped and yo-yoed in the days that followed.
The president’s memecoin hit a peak of $72 on Jan. 19, then dipped to $44 on Jan. 20 when MELANIA launched. The coin briefly recovered while the president was sworn into office and has since hovered around the $40 mark. At the time of writing, the president’s memecoin is $37 — down 49% from its peak.
If speculation is to be believed, more official memecoins by the Trump family are on the way. Though touted as “memecoins,” their significance is unprecedented.
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Author: Ailsa Sherrington
