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International Business Times

Business

Marvie Basilan

'A Mockery Of Bitcoin': Crypto Goes Wild Over $TRUMP Official Memecoin, Bitcoiners Decry Betrayal

Melania Trump Donald Trump Eric Trump Crypto David Bailey CoinGecko Cryptocurrency

Donald Trump launched his official memecoin, $TRUMP, ahead of his inauguration. (Credit: The Official Trump Meme Website / Screenshot)

KEY POINTS

$TRUMP surged above $70 within a day of the memecoin's launch
The memecoin has since plunged to around $47 amid the release of $MELANIA
Some Bitcoiners feel that Trump betrayed their trust with his official memecoin launch
Prominent Bitcoiner Scott Wolfe said the token was a 'total scam'

Donald Trump, who will be inaugurated today as the 47^th President of the United States, launched his official memecoin, Official Trump (TRUMP), which skyrocketed above $70 within a day.

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