The TRUMP meme coin launch was either the all-time crypto market top signal, or day one of new bout of irrational exuberance in a sector that's seen a few such rounds already. Why it matters: For the next three years,

President-elect Donald Trump promised a crypto-friendly administration. Days before taking office a second time, he began selling a new cryptocurrency. Named $TRUMP, the project is a meme coin, a type of crypto whose value is based largely on the popularity of internet memes.

Donald Trump is promoting a Solana meme coin from his social media accounts. Elaborate hack or a truly wild new era for crypto?