President Donald Trump's memecoin, $TRUMP, has reached a market value of over $7 billion, leading to mixed reactions in the crypto community. While some prominent figures in the industry have criticized its launch, Cathie Wood, CEO of ARK Invest, has defended the memecoin, stating that Trump is leading the next phase of the crypto revolution. Wood does not personally hold $TRUMP but believes it may have future practical value. She also expressed confidence in decentralized finance and identified Ethereum and Solana as foundational pillars. The market performance of $TRUMP has seen a decline, currently trading at $37.95, while Melania Trump's memecoin, $MELANIA, is trading at $3.40 after a decline of 14.14%.



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