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John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

The $Trump memecoin is reaping billions – but like the man himself, it’s extremely volatile

Donald Trump Melania Trump Elon Musk United States Crypto

Freshly elected US president Donald Trump has exercised his usual degree of modesty and named his newly launched cryptocurrency or memecoin, $Trump.

And like the man himself, the coin’s price is extraordinarily volatile. The price ran up to US$75, fell below $60, went back to $75, fell below $40, then rose back to $60 and had fallen to $31 at the time of writing. And this was just in two days.

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