Amid Trump’s presidential bid, new meme coin RTR, inspired by his “Restore The Republic” slogan, joins a series of Trump Coin, some aiming to raise crypto donations for his campaign.
This development is the result of the numerous meme currencies that have been created in Trump’s name over the past few months as he competes for the presidency with the support of crypto enthusiasts.
Although numerous of these coins were generated in jest, others were intended to solicit cryptocurrency donations for Trump’s campaign.
It is worth noting that a new meme coin, RTR, has recently been introduced, which was inspired by Trump’s “Restore The Republic” slogan and his pledge to establish America as a cryptocurrency center if elected.
The RTR developers are currently promoting their coin as “the official Trump coin,” which has sparked interest and debate within the crypto community.
What Purpose “Official Trump Coin” Serve?
For the sake of clarity, there is no official Trump coin. In the midst of the commotion, numerous individuals are querying the necessity of a “official Trump coin.”
Neeraj Agrawal, an official at Coincenter, initiated a vivacious conversation on the social media platform X by inquiring about the purpose of a “official Trump coin.”
EllioTrades, a crypto analyst, contended that the current crypto cycle has evolved into a form of “cult,” in which individuals are placing bets on trends rather than fundamentals. He rhetorically inquired, “Is there a more significant cult to bet on than politics?”
Mike, an additional distinguished analyst, proposed that it is the “speculation that it does not reach zero, thereby enabling someone to send it there.”
Zack Voell, an angel investor, affirmed this sentiment, asserting that the objective of a “official Trump coin” would be identical to that of the unofficial ones that have already been developed: to facilitate pump-and-dump strategies for immediate profits.
Eleanor Terrett, a reputable Fox Business journalist within the crypto community, also contributed. She sarcastically suggested that an official Trump coin should have some utility beyond being merely another meme coin.
She posited that it could potentially be a Trump-branded real estate token, given the Trump family’s real estate heritage.
Donald Trump’s crypto portfolio, which is primarily comprised of meme currencies, is valued at over $3 million, as indicated by Arkham data. Notably, the portfolio was valued at roughly $10 million a few months ago.
