Indeed, the traders most affected by the erosion of the token’s value remain first-time investors. “These are largely new retail buyers,” said the blockchain analytics firm

President Donald Trump and First Lady Melania Trump both launched meme coins on Monday, but experts say they may not be reliable investments.

The launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.

Trump may reach $35, while the crypto market rebounds to $3.5T. Traders are eyeing altcoins with strong potential as Bitcoin’s future remains uncertain.

President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

Meme coins have always been divisive, but Trump and Melania’s entry into the space seems to be pushing some retail investors over the edge. A recent Stocktwits poll reveals that 31% of retail investors feel that the creation of these meme coins is driving their dislike for the crypto market,