Websites selling branded products of US President Donald Trump have begun accepting $TRUMP memcoin as payment, reported the agency. Bloomberg.
According to her, several sites with similar products, including perfumes, watches and shoes, have introduced payment in memecoins to ensure increased demand for the cryptocurrency $TRUMP. At the same time, the high sensitivity of these assets to price fluctuations prevents them from being used as a means of payment, the agency explains.
On January 18, Trump announced the launch of his cryptocurrency $TRUMP. During the day, the trading volume of memcoin exceeded 11 billion USD, after which Trump's wife Melania announced the launch of her coin $MELANIA. Bloomberg expressed the opinion that the release of tokens by Trump and his wife damages the reputation of the crypto industry.
Memcoins are a cryptocurrency that is created as a social experiment. Its price depends on the popularity of the phenomenon on the basis of which it was created. For example, memecoins such as politifi - a mix of the words politic (political) and finance (finance) - are created in support of a particular political figure. The price of a memcoin depends on the level of support for a policy. Cryptocurrencies of this format do not carry any value or use and are considered a speculative financial instrument.