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President-elect Donald Trump has launched a new cryptocurrency token that is soaring in value – and potentially boosting his net worth – just before his inauguration. It’s the latest norm-defying promotion by Trump, who has also helped sell branded bibles, gold sneakers and diamond-encrusted watches. In promoting the meme coin, Trump told supporters to “Have Fun!” The website selling the tokens says they are meant as expressions of support and not an investment opportunity.

In 2021, GameStop’s stock soared over 1,500% in less than a month,driven by a Reddit-fueled frenzy. The irony is clear: memecoins like the TRUMP token face heavy criticism for speculative hype, yet they mirror the very behavior seen in traditional finance markets.

The crypto industry gathered ahead of the presidential inauguration to celebrate its staggering victory in the 2024 elections.

Some big institutional investors are pivoting from the AI chipmaker toward the world's top cryptocurrency.

WASHINGTON (Reuters) -Cryptocurrency executives swilled cocktails and danced to rap superstar Snoop Dogg on Friday night as they celebrated the approaching inauguration of President-elect Donald Trump, whose administration has promised major changes in crypto policy. After years of butting heads with Washington policymakers, executives from crypto companies including Crypto.com, Kraken, and Exodus partied at the first-ever crypto inauguration ball held at the 90-year-old Andrew W. Mellon Auditorium beneath towering 62-foot (19-metre) columns. Clad in black tie and ball gowns, guests noshed on miniature lobster rolls and Trump's favored McDonald's burgers and fries, according to social media posts and two attendees who spoke to Reuters.

It's reasonable for people to pay attention when a major global player, like a government, decides to exit its holdings of a cryptocurrency. Such players often command vast sums of assets, and it's obvious that selling off those assets all at once will have a detrimental impact on the market value of the associated coins.

Investing in Dogecoin (CRYPTO: DOGE), the leader of the meme coins, and Shiba Inu (CRYPTO: SHIB), the runner-up, is risky under the best conditions. Let's learn about three key concepts that'll you'll need to understand if you want to succeed with these investments. One way to think about the answer to that question is that memes are themes or narratives that increasingly capture people's attention, widening like ripples in a pond.