When the most famous man in the world cashes in on a crypto trend, that's a strong top signal. Why it matters: Revenue has been falling for the leading meme-coin platform since the Trump Organization launched the Official Trump (TRUMP) and Melania Meme (MELANIA) coins Jan.

Memecoin’s moment may have passed, just after U.S. President Donald Trump cashed in on the frenzy around it. The MAGA chief’s decision in January to launch a memecoin—a digital token which isn’t linked to any kind of underlying business or asset—caused a flurry of interest,

The new bill follows presidential forays into memecoins from Donald Trump, the president of the Central African Republic, and Argentina.

Democratic politicians are calling for restrictions on politicians profiting from the launch or promotion of memecoins.

Congress Democrats have introduced a bill in the House to ban top federal officials and their families from issuing or promoting meme coins.

First Lady Melania Trump's disastrous meme coin has tanked just weeks after it was launched. Worth $13.69 at its peak on January 20, the cryptocurrency has now flopped and the value of her $Melania coin slumped as low as $0.