Meme coins keep ripping off investors. Are celebrities in on the scam?

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.

The new Solana-based meme coin launched by President Donald Trump earlier this month has already dipped in terms of trading volume and racked up more than $11 million in fees for traders. In the last 24 hours,

President Donald Trump promised crypto investors he’d usher in an era of legitimacy for an industry that’s long been relegated to the financial wilderness — dismissed by some mainstream investors as an highly speculative bet at best or an elaborate Ponzi scheme at worst.

Meme coins have revolutionized cryptocurrency, transforming viral internet humor into lucrative financial ventures. These quirky tokens thrive on community engagement and innovative features, making them one of the most dynamic corners of the crypto market.