Everything Investors Should Know About the $TRUMP Meme Coin
Spoiler alert: $TRUMP is not an investment.
The first thing investors should know about the Official Trump (CRYPTO: TRUMP) coin is that it isn't an investment. Even its website says so. The site says the token is a way to express support for the ideals embodied by its $TRUMP symbol, but is not intended as an investment of any type. That makes it a true meme coin.
The second thing people should know is that many buyers have lost money, at least on paper. Chainalysis data shows that about 40% of the wallets that bought $TRUMP are down on their investments, according to CNBC. In contrast, the people behind the project have made more than $324 million in trading fees. Plus, 58 wallets have seen gains of more than $10 million.
The token is the best-known incarnation of a new type of crypto: PolitiFi. In this article, I'll look at what PolitFi is, who's behind $TRUMP, and whether anyone should buy it.
