Trumps accused of greed, grifting with back-to-back memecoin launches
Summary
Donald Trump and Melania Trump face accusations of a "pump and dump scheme" following the launch of their respective memecoins, TRUMP and MELANIA. The TRUMP token reached a $15 billion market cap but fell 38% after MELANIA launched, which peaked at over $13 billion before dropping to $7.3 billion. Analysts criticize the launches as damaging to Trump's credibility, with claims that they reflect greed and poor decision-making. The crypto market is experiencing a downturn, with Bitcoin's price dropping nearly 6%. Despite the controversies, the combined market cap of TRUMP and MELANIA exceeds $16 billion, attracting significant trader interest.
