Are you unsure if it’s worth your time and money to invest in the hoopla surrounding Official Trump (TRUMP)? Experts say there is a better option for long-term growth, even though the TRUMP coin is grabbing the most attention in cryptocurrency trading due to its quick ascent. Let’s learn more about the Trump coin and its rivals.
What is Trump Coin?
Prior to his inauguration on Monday, the digital currency known as TRUMP surfaced on his social media pages and swiftly rose to the top of the cryptocurrency market. Within a day, a single coin’s value soared to $75, but it has since dropped to $39. Though the industry insiders have openly criticized the introduction of the so-called meme-coin, a cryptocurrency that has no use beyond speculation or amusement, it’s better to analyze each factor thoroughly before making any investment decision.
Rivals of Trump Coin
Cryptocurrency investing is difficult in India. It’s challenging because of high taxes and other regulatory obstacles. In any case, the number of cryptocurrency investors is increasing annually. An innovative method of cryptocurrency trading with unrivaled funding prospects, passive income potential, and lasting rewards is provided by a new meme coin. It’s time to witness what this meme coin Dogecoin can provide if you’re prepared to put aside the hype and make actual money!
Dogecoin, a well-known humor coin, was the most popular cryptocurrency among local investors, according to statistics from CoinSwitch, an Indian cryptocurrency exchange. The amount of growth this coin has had after being endorsed by Elon Musk is astounding. Investors may be surprised to learn that, although one can explain Dogecoin’s appeal around the world, SHIB was the most traded coin, and PEPE was the best-performing cryptocurrency on the Indian market.
Trump Coin ETF
The most recent filings with the Securities and Exchange Commission seek to bring meme currency ETFs to market, like the ones tracking U.S. President Donald Trump’s Trump coin or Dogecoin (DOGE). This is not just a risky strategy because DOGE and TRUMP are significantly less established and reputable tokens, particularly in the eyes of Wall Street, but meme currencies provide no actual benefit, unlike Ethereum’s ether (ETH) or Bitcoin. Their value stems solely from how many people believe it is worthwhile to make the establishment of tracking (ETF) the coins a legit discussion.
Is Trump Coin a Good Investment?
There is no denying that anyone can design a cryptocurrency coin, and there are many of them. On the night of the inauguration, Melania Trump often referred as the first lady introduced her own meme coin, which has since plummeted from $13 to $2.70. Today, it is worth $700 million. However, investors in numerous meme-coins have suffered significant losses.
Final Verdict
Trump’s meme coins sparked a rise in interest in cryptocurrency and attracted many newcomers. To a few, the trump coins represented Trump’s dedication to cryptocurrencies and their growth. However, many in the cryptocurrency community were outraged by what they perceived as a money snatch and a method for Trump to personally profit from his fans.
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Disclaimer: Demat Dive is not giving any buying advice on any stock. Consult a SEBI-registered advisor before investing anywhere.