President-elect Donald Trump and First Lady Melania Trump have launched their own meme coins, Official Trump ($TRUMP) and Melania Meme ($MELANIA), resulting in a surge of interest and controversy. $TRUMP reached a valuation of $72 billion, while $MELANIA surged over 12,000% in just a few hours. The debut of these meme coins caused a liquidity drain from the broader cryptocurrency market, with altcoins struggling to recover. Popular meme coins like Dogecoin, Shiba Inu, and Pepe Coin all experienced significant drops in value. Opinion on the meme coins varied, with some celebrating mass adoption and others criticizing the move as unethical and exploitative. Some speculated that the incident could lead to future regulatory changes, while others saw it as a step backward. Traders reflected on SEC Chair Gary Gensler's previous warnings and expressed differing viewpoints on the potential impact of the meme coins on the market in the coming weeks.



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