An Introduction
The OFFICIAL TRUMP and OFFICIAL MELANIA meme coins (referred to in the industry as “shitcoins”) launched by Donnie and Mela Trump on Truth Social on Friday, January19/20th, have:
- crashed 77% and 89%, respectively, from their all-time highs on Inauguration Day on January 20th;
- crashed 33% and 43%, respectively, in the past 7 days and, if that wasn’t bad enough, have
- crashed 23% and 17%, respectively, in the last 24 hours as a result of the latest geopolitical tensions with the introduction of 25% tariffs on Canadian (only 10% on oil and gas) and Mexican imports and a further 10% tariff on Chinese goods, and
- rank #34 (down from #27 a week ago) and #97, respectively. compared to the 10,000 other shitcoins on the market
What Are Shitcoins?
In industry jargon the $TRUMP and $MELANIA coins are referred to as shitcoins.
Privacypros points out that there are several definitions out there:
- The Urban Dictionary defines a shitcoin as “a great way to lose money” and “a cryptocurrency with no utility or unique features.” In other words, a shitcoin is a cryptocurrency that will someday be totally worthless.
- Investopia provides a detailed definition, saying that a shitcoin is “a pejorative term used to describe an altcoin that has become worthless. Shitcoin value may disappear because interest fails to materialize, because the altcoin itself was not created in good faith, or because the price is based on speculation.” This article then continues to break down ‘shitcoin’ more with another 500 words of description and analysis.
- A Quora poster calls it an “altcoin (that) is considered worthless due to the lack of…useful features in the development of its blockchain. While shitcoins are considered worthless, that doesn’t necessarily stop them from going ‘to the moon’”.
Where/How Can You Buy A $TRUMP or $MELANIA Meme Coin?
I don’t know why anyone would want to buy these shitcoins but if that is what you want to do then go HERE or HERE.
Breaking NEWS!
Elon Musk’s father, Errol Musk, reported on X that he had introduced $Muskit on January 30th with the aim to raise $150M to $200M which will supposedly go toward the establishment of the Musk Institute, a for-profit think tank which is expected to do advanced engineering and focus on technological breakthroughs of the sort that don’t happen every day and that will, in Errol’s words, “do what no one else is doing.” It was launched at a price of $0.01 per coin, spiked to $0.11 by the end of the day but has settled down to a current $0.03.
The sharp increase in price and huge trading volume show that the market is reacting very positively to the idea of the Musk family being involved in this prospect. Even though Elon Musk hasn’t said anything about the project, we think it’s quite possible that rumors or indirect involvement from him could really light a fire under MUSKIT’s price. Source
Traditionally, meme coins are seen as speculative assets that experience wild price swings based on hype and trends on social media but MUSKIT seems to be staking out a different, possibly more sustainable, position by aligning itself with a tech-driven initiative instead of relying just on internet virality. Source
The possible success of MUSKIT will likely rely on the Musk Institute taking shape as intended and on the use of funds raised through the memecoin. If the think tank somehow manages to pull off what it claims will be a series of “world-changing projects,” MUSKIT might evolve beyond being a speculative token and become something with real application—application, in this case, associated with one of blockchain’s many oft-discussed “use cases.” Source
