MEME is up 66.6% in the last 24 hours, now trading at $0.004. The surge in value highlights the ongoing volatility and speculative nature of the memecoin market, where digital tokens often gain traction through social media trends and celebrity influence rather than traditional financial fundamentals. The rise in MEME’s price reflects a broader trend of increased interest in memecoins, which are largely unbacked by tangible assets but thrive on internet culture and community-driven hype.
The memecoin phenomenon has seen a rapid proliferation in recent months, with tokens like Dogecoin, Shiba Inu, and Bonk capturing significant market value. These coins, often created as jokes or satires, have drawn substantial trading volumes and investor attention, with Dogecoin alone boasting a market capitalization of around $32 billion. The total market cap for memecoins reached as high as $140 billion in December 2024, representing over 11 percent of the altcoin market. This surge coincides with a more lenient regulatory environment under the Trump administration, which has relaxed enforcement of fraud laws in the cryptocurrency sector [1].
The Trump administration has directly participated in this trend through the launch of the $TRUMP and $MELANIA memecoins. Both coins experienced initial spikes in value, with $TRUMP reaching a high of $75 and $MELANIA peaking at $8.50 in early 2025. However, both tokens have since lost significant value, with $TRUMP dropping to around $9 and $MELANIA falling below $0.25. The Financial Times reported in May that a group of traders profited nearly $100 million by purchasing $MELANIA minutes before its public announcement, then selling off after the value surged [2]. This pattern of speculative trading and rapid value fluctuations underscores the high-risk nature of memecoin investments.
Celebrities have also entered the memecoin space, with rapper Kanye West launching his YZY coin in February 2025. Despite initially dismissing the idea of creating a crypto token, claiming it “preys on fans with hype,” West proceeded to launch the YZY coin via his X account. The coin saw a brief surge to a $3 billion valuation, only to drop by two-thirds within three hours. Traders collectively lost over $20 million, according to blockchain analytics firm Nansen [3]. The YZY launch mirrored the playbook used by the Trump administration, with both cases involving sudden social media announcements, substantial early trading volumes, and concerns about insider trading.
The YZY coin’s structure also raised red flags among analysts. According to the YZY Money website, 20 percent of the token supply has been released, 10 percent is available for trading, and 70 percent is held by Yeezy Investments LLC. The company cannot access these tokens for at least three months, a measure typically used to prevent market manipulation. However, the fact that a large portion of the token remains in private hands raises concerns about potential dumping and subsequent price collapses in the future [3].
These developments highlight the speculative and often predatory nature of memecoin trading. Unlike traditional cryptocurrencies such as Bitcoin, which are based on decentralized financial systems and have established use cases, memecoins are largely driven by social media trends, celebrity endorsements, and community hype. The lack of regulation and the potential for insider trading make memecoins particularly risky for retail investors, who often find themselves caught in cycles of mania and panic.
The recent trends in memecoin trading and the involvement of high-profile figures underscore the broader economic and cultural contradictions embedded in the cryptocurrency market. While some investors see memecoins as a way to profit from viral trends and celebrity influence, others view them as cautionary examples of speculative excess and financial instability. As the market continues to evolve, it remains to be seen whether these tokens will persist as a significant financial phenomenon or fade into the growing list of crypto-related cautionary tales.
Source: [1] Why Everything Is a Memecoin Now (https://www.rollingstone.com/culture/culture-commentary/cryptocurrency-memecoin-green-dildo-1235410900/) [2] Trump and Melania’s Scammy Meme Coins Have Lost Almost … (https://finance.yahoo.com/news/trump-melania-scammy-meme-coins-210940670.html) [3] Kanye West Said Memecoins ‘Prey On Fans.’ Then He … (https://www.wired.com/story/kanye-west-memecoin/)
