MAGA: Beware of Trump's meme coin scam

The Donald does a last-minute cash grab before being sworn into office. Unfortunately, some MAGA voters might be left holding the bag.

Note to readers: Like the rest of you, I’m glad Trump won the election. I voted for him, and I’m looking forward to the inauguration tomorrow. But, long before he entered politics, Trump was known as The Donald. He wasn’t given that nickname on a lark; he got it because he never hesitated to seize any opportunity available to make a buck. In this article, I will put aside President Trump and focus back in on The Donald.

One of the amusing qualities of Donald Trump is his unabashed greed. He has never hesitated in communicating that he loves money and all the bling that comes with it. The Donald was always a stellar example of what was possible if you made it in America and became wildly rich. He was flaunting his bling long before he ever took a single footstep into politics. Remember his plane, helicopter, and various properties that gave him the allure of the super-wealthy when he was on The Apprentice TV show? All of that created an image of Trump that exemplified American success and excess.

Well, two days before he was to be sworn in as president again, Trump’s greed was on full display as he released a meme coin. The coin was aimed at his supporters and encouraged them to “join the community” by buying it. The marketing on the meme coin site leveraged the assassination attempt that nearly cost Trump his life. The Donald has never been shy about taking advantage of his supporters, and I’ll explain why later in this article. In this case, however, he took trashiness to a new low by exploiting his own near-death to sell his coin. 🙄

Here’s a look at his meme coin site:

As I write this post, the price of Trump’s meme coin is $67.28. That means it has gone up 25,942.20% since it was introduced at .18 cents. Not a bad return if you can get it, right? People are buying it via the Moonshot app available for iOS and Android.

Now, you might notice that I called this meme coin a scam in the title of the article. Why would I say that if people are making so much money off of it already? Well, if you are one of the lucky or smart ones who got in early, made a big load of cash, and got out, more power to you! Enjoy your wealth! 👍🏻

But I also say this to those of you who are thinking about buying the coin: BEWARE! What is happening on Moonshot is gambling, not investing, and you should understand something very important about The Donald’s coin. 80% of it is locked up by insiders. Yes, 80%. Take a very close look, and you will see how the insider groups are broken up and when their allocation unlocks:

Now, I must admit that I admire Trump’s sheer gall in doing this a couple of days before he comes president. He is clearly leveraging his inauguration and the bling of the presidency itself to get people to buy his coin. But you should understand that the value of his coin can drop like a rock at any point, and you could be left holding the bag when all is said and done. You might see riches on the horizon, only to find that your ship has smashed itself onto the rocks of a meme coin that ultimately drops back in value to almost nothing.

I mention all of this because his coin is obviously targeted at his political base. MAGA voters love him and will usually follow him wherever he leads. But there is danger in that loyalty as well, and Trump’s meme coin has the potential to lead some of his supporters into a financial trap that could be devastating to them and their families. However much you might like and appreciate The Donald, remember that you do not know him personally, and he does not know you. His coin is designed to benefit him and the surrounding insiders, and your personal situation will never be known or cared about by any of them.

So, if you are thinking about buying Trump’s meme coin, make sure you use play money only. Don’t use your rent or mortgage money because you might end up buying high and selling very low! Trump and the insiders that surround him will make vast amounts of money when their allocations unlock, but you are not in that club, so take great care if you buy the coin.

Long ago, I said that Trump’s foray into politics would be the greatest reality show in history. Things like this meme coin are just a reminder to me that I was right. Say what you will about him, The Donald is never boring. You never know what you are going to get with him. 😂

I wish all of you great luck if you buy his coin, and don’t forget the undead if you strike it rich! 💰😉

UPDATE: What did I tell you? Between the time I wrote and published this article, and just a minute ago, the price of Trump’s coin dropped nearly 20 bucks! BEWARE! 😂

UPDATE 2: Now it’s down to around $40. Wow.

UPDATE 3: Bouncing down into the 30s:

UPDATE 4: Melania has launched her own coin too! 😂

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