A few hours before his inauguration, Donald Trump launched his official meme coin, $TRUMP. This token caused massive volatility, exceeding $50 billion in trading volume, with its price skyrocketing from $6 to $70. Then it was Melania’s turn to launch her own meme coin, $MELANIA. This launch triggered a 50% drop in $TRUMP’s value. While $MELANIA’s numbers were less spectacular, these two launches raised a question, even among seasoned industry veterans: is cryptocurrency still credible?
But the question “Is crypto still credible?” is more complex than simply asking, “Are opportunistic tokens being launched?” Crypto is, first and foremost, a technology that enables decentralized exchanges (monetary or otherwise) and the creation of various applications without intermediaries. Major cryptocurrencies like Bitcoin and Ethereum (despite their criticisms) continue to provide a solid technological foundation, supported by communities of users and developers working on meaningful projects.
Meme coins, on the other hand, have always been part of the landscape. Take Dogecoin, for example, which started as a joke. The issue is that the frenzy around these coins often turns into a pure casino-like environment, giving the impression of a sector where anything goes and fortunes can be made (or lost) in minutes. This can make people skeptical, especially those looking for more “serious” applications of blockchain.
That said, the existence of these whimsical tokens doesn’t mean the entire crypto sector is discredited. Like any financial or technological industry, there are dubious initiatives that make noise, while serious projects continue to progress quietly. The difference is that in crypto, everything moves faster, with no barriers to entry and trends amplified by social media.
In reality, trust and credibility in crypto are built over the long term:
- Regulation is advancing (albeit slowly), but it will help separate the wheat from the chaff.
- Concrete use cases (DeFi, NFTs in gaming, digital identity, etc.) continue to grow.
- Major financial institutions are starting to integrate crypto into their services or invest in blockchain R&D.
So, Trump and Melania launching their meme coins and causing a frenzy may seem absurd and discrediting at first glance, but in reality, it’s just another episode of speculative mania around certain tokens. Meanwhile, the core blockchain technology and solid projects keep moving forward. So, if you’re wondering whether crypto is “credible,” the answer depends on which crypto and which projects you’re talking about. The $TRUMP/$MELANIA publicity stunts are just one (loud) facet of a sector that, at the same time, is developing genuinely useful solutions.