What is a memecoin? Use cases, risks explained

US President Donald Trump, days before moving back into the White House, launched $TRUMP, a memecoin, which surged from under $10 on Friday to over $70 on Saturday. Experts said Trump’s coin represented a blending of the world of digital assets into the political arena, but it also “blurs the lines between governance, profit and influence”.Memecoins are not new and have been popularised by figures like billionaire Elon Musk. But what are they and how do they differ from traditional cryptocurrencies like Bitcoin and Ethereum? Let’s take a look.

What is…