Investing.com — The cryptocurrency market is in a stir following the launch of Donald Trump’s $TRUMP meme coin, which saw its value rise by more than 11,000% since launching on Friday. The coin reached a market cap of $66 billion by Sunday afternoon, marking Trump’s daring entry into the digital asset and merchandise sales field before his impending inauguration on Monday.
The $TRUMP coin was announced on Truth Social late Friday and was presented as a commemoration of Trump’s presidential election victory. The coin, which is based on the blockchain platform, started with a limited supply of 200 million coins. According to the coin’s official website, the supply is expected to increase to 1 billion over the next three years.
The dramatic rise of $TRUMP has created a lot of chatter, but Nigel Green, CEO of deVere Group, advises caution. Green said, “This is a revival of the meme coin trend we saw in 2021 and 2022, where many young, inexperienced investors got burned by extreme volatility. Without doubt, investors will get burned by this frenzy too.”
Green pointed out the speculative nature of meme coins and warned that their values can swing drastically. He clarified that…
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