00:00It's Benzinga bringing Wall Street to Main Street.
00:02Donald Trump's company set a new benchmark for cryptocurrency hype with the release
00:05of a celebrity meme coin ahead of his presidential inauguration.
00:09According to blockchain tech startup CoinLedger,
00:12over 7% of its sampled users traded this token within two days of its release,
00:16while just under 2% traded the Melania meme token on its first day.
00:21The Trump organization's meme coin attracted 11 times more market engagement
00:25than Iggy Azalea's mother token, one of 2024's biggest launches.
00:29CEO David Kemmerer stated that investors saw profit potential in the official Trump token,
00:35which peaked at above $73, but has since settled around $40 after the inauguration.
00:40Analysts are monitoring how the token's value holds up as more are released,
00:44which could lower its price due to increased supply.
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