A survey showed that one in seven Americans purchased "Official Trump," an official meme coin released by U.S. President Donald Trump.
A survey conducted by NFT Evening, a virtual currency company, on the 20th (local time) revealed that one in seven Americans, or 14%, have purchased "Official Trump," an official meme coin released by U.S. President Donald Trump.
According to the survey, among those who purchased Official Trump, 42% were first-time virtual currency investors. Bitcoin.News analyzed that meme coins are likely to serve as an introductory cryptocurrency due to political support and novelty.
Meme coins are virtual assets that are inspired by memes and jokes that occur on the Internet and social networks. Dogecoin, scheduled by Elon Musk, is a representative example.
But despite the popularity and profitability of these meme coins, there was also a considerable amount of unflattering attention. In the same survey, 55% of Americans said they believed the Trumps were manipulating the virtual currency market. In addition, 75% said that the launch of the official Trump coin had a negative impact on the virtual currency market.
Some cryptocurrency industry experts have also warned that the rollout of meme coins like this risks weakening industry credibility. Jorge Soriano, head of Spain's cryptocurrency exchange Kryptan, pointed out that "the cryptocurrency industry can strengthen the perception that these meme coins are immature and unprofessional."
Meanwhile, the rise of Official Trump, which was officially issued on the 17th, has also been dampened. On the 19th, the price soared to nearly $75 and the market capitalization exceeded $14 billion, making it the 14th largest virtual currency market, but it plummeted after Trump's inauguration on the 20th did not mention anything about virtual currency.
As of 4 p.m. on the 21st on CoinMarketCap, Official Trump was trading at $35.88, down 39.10% from 24 hours ago.
Official Trump can trade on Coinone among domestic virtual asset exchanges. Coinone listed Official Trump for the first time on a domestic exchange at 7 p.m. on the 20th. At the time of listing, the price was around 83,000 won, but it sank to around 53,000 won at 4 p.m. on the 21st.
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