Trump’s $TRUMP Memecoin Launch Raises Crypto Market Concerns

The former president’s memecoin skyrocketed in value but sparked fears of speculative bubbles and market instability.

Donald Trump’s $TRUMP memecoin reached a $5.5 billion market cap shortly after launch, surpassing Dogecoin’s early records.
Critics argue the token exemplifies speculative excess, with concerns about insider trading and market manipulation emerging.
Elliott Management warned that Trump’s crypto initiatives, including the $TRUMP token, could fuel a bubble and weaken the U.S. dollar’s global reserve currency status.
Trump’s administration has prioritized cryptocurrency policies, including forming a working group to explore regulations and creating a national digital asset reserve.
While some view $TRUMP as a step toward mainstream crypto adoption, others fear it undermines the industry’s credibility by promoting hype over intrinsic value.