Trump Launches a Meme Coin: What’s the Deal?
Recently, Trump launched his own meme coin (yes, really!) (link to source), so I thought it’s time to talk about meme coins in general.
Initial Thoughts
I don’t like this event, and I think it’s bad for crypto overall. I’ve never been a big fan of meme coins, but people love them, and the success stories can be very tempting.
The problem? Trump Coin will likely:
- Suck liquidity from other projects.
- Eventually collapse entirely (as meme coins often do).
This will leave many people frustrated, and the general vibe around crypto will take a hit.
Of course, I bought some (it’s already enough for a pair of Crocs — maybe it’ll stretch to a Gucci wallet?). But overall, I see more ways this ends badly than well.
What Are Meme Coins?
Meme coins are cryptocurrencies inspired by internet memes, jokes, or community-driven hype.
Popular examples include:
- Dogecoin (DOGE): The OG, starting as a joke and gaining mainstream adoption.
- Shiba Inu (SHIB): Another dog-themed coin that skyrocketed in popularity.
Their value isn’t tied to any groundbreaking tech — it’s purely driven by community hype, memes, and speculation. You buy into the fun and hope for profit.
Meme Coins on Solana
A new trend: meme coins on Solana. Check out:
- pump.fun: A platform where people launch meme tokens and host chaotic streams.
- Phantom Wallet: The go-to tool for buying and tracking meme coins on Solana.
My Meme Coin Experience
- I started with 1 SOL and lost most of it experimenting.
- But I still hold a few meme coins, including Trump Coin and SPX6900 (link) for fun.
