President Donald Trump's token ($Trump) also does not have a good performance – here the loss to the record is -93%. at a price of $5.26. (the record is $76.98).
We have clear proof that cryptocurrencies that have no real value behind them they live a very short time. If someone wants to make money on such tokens, they usually only have a few weeks or months to do so when the project is heavily promoted.
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For experienced investors, this was no surprise
In January this year We reported on Business Insider that the Trump tokens could not count on good long-term results. There was simply no logic. In the article, Melania and Donald Trump extract money from naive people. Is this what the US president's support for cryptocurrencies should look like? We explained why these meme coin projects had no practical application and based their value solely on speculation.
The surge in popularity before the inauguration also turned out to be a good time for the US president to introduce cryptocurrency to the market
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Donald and Melania Trump decided it was worth taking advantage of the growing popularity surrounding the inauguration, so introduced digital tokens and started informing about them on their social media. Their fans number in millions, so it was easy to reach a large enough group of recipients potentially interested in investing in cryptocurrencies.
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In fact, cryptocurrencies introduced on the Solana blockchain (a competitor to the popular Ethereum) turned out to be a low-value digital token, comparable to many NFTs.
Considering who these cryptocurrencies were and are associated with, introducing them to exchanges was not a big challenge, including Binance.
Check also: Donald Trump pardoned him. Now he claims: “he has no idea who he is”
CNN reports that tokens were introduced, much to the chagrin of ethics experts. But Trump didn't mind. He earned another billion dollars from his fans, and although he declared that as US president he would support the cryptocurrency sector, it is possible that many people who invested in the presidential couple's tokens could only be alienated from these assets.
