President Donald Trump and First Lady Melania Trump Criticized for Launching 'Meme Coins' Ahead of Inauguration

"Meme coins," also referred to as "shit coins," are a class of cryptocurrencies that include Dogecoin and Fartcoin.

The launch of “meme coins” in the lead-up to President Donald Trump’s second inauguration has drawn criticism from the crypto community.

“Meme coins,” also known as “shit coins,” are a category of cryptocurrencies that includes Dogecoin and Fartcoin. They are highly volatile assets, often leading to losses for investors.

The meme coins, $TRUMP and $MELANIA, were announced in social media posts on TikTok a few days prior to the inauguration.

My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC

By creating a meme coin cryptocurrency that investors could easily lose money from, critics argue Trump is worsening the crypto hate, with some accusing the currency of being fraudulent and risky for consumers.

The cryptocurrency experienced significant volatility in the days since it launched. While both coins amassed billions in value, they lost 20% as the inauguration ceremony began.

One user lambasted the President’s involvement in crypto, saying, “$TRUMP Coin should be illegal. Period. Like What The Fuck. A President doing this is SO WRONG.”

$TRUMP Coin should be illegal. Period

Another user appeared to poke fun at those who had invested by jokingly stating that he had lost his life savings of “$37.28.”

“I just lost every last dollar I had ($37.28) buying the Trump and Melania crypto coins,” they wrote. “I’m literally shaking and throwing up right now.”

I just lost every last dollar I had ($37.28) buying the Trump and Melania crypto coins I’m literally shaking and throwing up right now

Others, however, regret failing to invest in the currency sooner, wishing they had got the better of the currency’s volatility.

Lamenting their failure to invest in the currency during its height, one user wrote, “Me seeing a crypto guy making $310K from $800 in 15mins with Trump coin while I wake up at 6 am to go to work.”

Me seeing a crypto guy making 310K from 800 in 15mins with Trump coin while I wake up at 6am to go to work

Crypto industry heavyweights have also discussed their concerns over the meme coins produced by the sitting President.

In posts on TikTok, Nic Carter, founding partner at the crypto investment firm Castle Island Ventures, warned that Trump creating personal meme coins “opens the door to secretive foreign buyers trying to curry influence with our leaders.”

Something that hasn’t been much discussed – creating a bunch of personal memecoins opens the door to secretive foreign buyers trying to curry influence with our leaders. If you hated hunter biden’s anonymous art sales, you should hate this too.

Carter also warned of conflicts of interest related to a President investing so explicitly in cryptocurrency, adding to cryptocurrency skepticism.

Others in the community also expressed concerns over Trump’s crypto policies.

One crypto enthusiast wrote on TikTok, “Trump dropping his own memecoin means he has the wrong people in his ear re crypto policy. I’m now getting very concerned about the Trump presidency.”

While the Trump and Melania meme coins have their dissenters, others are keenly awaiting currencies from other members of the family, with eyes looking towards Baron Trump.

While some are speculating over a $Baron token currently circulating, others are eagerly awaiting the next meme coin of the Trump presidency.

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