Trump claims success with $TRUMP memecoin, but concerns arise over market manipulation and ethics.

From Investing.com

January 21, 2025 11:26:09 PM:

President Trump faced questions about his involvement in the $TRUMP memecoin, claiming he launched it but not benefiting much personally. The token reached a market cap of $14 billion, netting Trump billions in paper gains. However, concerns arose about price manipulation and ethical issues surrounding his influence on speculative markets.

Despite the success of $TRUMP, the launch of $MELANIA raised trader concerns about Trump’s influence on markets. The $TRUMP memecoin saw volatile trading, stabilizing at $41 after hitting a peak of nearly $80. Trump’s lack of mention of crypto policy in his first days in office disappointed those hoping for immediate pro-crypto policies.

The price of $MELANIA, which soared to over $109,000 prior to Trump’s inauguration, experienced volatility post-launch. The broader crypto market also saw increased volatility following the introduction of $TRUMP, raising questions about the impact of presidential involvement in the cryptocurrency market.

Read more at Investing.com: ‘That’s peanuts:’ Trump says about billions of returns on $TRUMP memecoin By Investing.com