Trump-Backed Solana Meme Coin Faces Market Skepticism

Donald Trump’s foray into the cryptocurrency world took center stage on January 17, 2025, with the launch of a Solana-based meme coin called $TRUMP. The launch was marked by a high-profile event in Washington D.C., where investors were promised exclusive access to events with minimum investment thresholds of over $1 million. While there was an initial price surge, market reactions quickly cooled down, revealing a wave of hesitation towards the project due to its centralized nature and speculative appeal.