Trump's memecoin stunt. Good or bad?

This past weekend, Donald Trump turned the crypto market upside down. Even before his inauguration, he launched his own memecoin called TRUMP. Within less than 48 hours, its value skyrocketed to nearly $15 billion, almost breaking into the top 10 largest cryptocurrencies. This likely makes it the fastest-growing coin in history. Crypto investors jumped on the hype, selling off other coins to buy TRUMP. The result? Much of the market turned red. And as if that wasn’t enough, the Trump family also launched a second memecoin, MELANIA, named after Trump’s wife.

We’ve been closely following these developments, but at Novelist, we do not invest in memecoins. The reason is simple: memecoins lack underlying value and are pure speculation. Our focus is on long-term crypto investments with solid fundamentals.

That said, we believe the launch of TRUMP and MELANIA may ultimately have a net positive effect on the industry. Crypto has captured the attention of a global audience. As the saying goes: “There’s no such thing as bad publicity.” And while the nature of this attention might not always be ideal, Trump’s move sends a powerful signal: he’s taking crypto seriously.

With this move, Trump has set the tone—no half-measures. Today marks Trump’s inauguration, and we expect further crypto-related announcements. We’ll keep a close eye on developments and update you on anything relevant.