First Lady Melania Trump has introduced her own meme coin, $MELANIA, following the recent launch of her husband Donald Trump’s $TRUMP cryptocurrency.
The $TRUMP coin experienced a volatile surge, reaching a market capitalization of approximately $32 billion shortly after its release. Similarly, $MELANIA quickly amassed a market cap exceeding $2 billion.
Despite these impressive figures, the rapid proliferation of celebrity-endorsed cryptocurrencies has raised concerns among investors and industry experts. Historically, such ventures have often resulted in significant financial losses for retail investors.
Notably, the $HAWK token, promoted by internet personality Haliey Welch, saw its value plummet over 90% shortly after launch, leading to substantial investor losses and legal actions.
The cryptocurrency community remains cautious, emphasizing the importance of thorough research and skepticism toward celebrity-backed tokens. The lack of intrinsic value and potential for market manipulation in these coins often leave retail investors vulnerable to significant financial setbacks.
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