Recent developments in the cryptocurrency market have seen the launch of several memecoins associated with high-profile figures. Notably, U.S. President Donald Trump has introduced the $TRUMP token, which has experienced a decline of 76% from its all-time high (ATH). First Lady Melania Trump has also launched the $MELANIA token, which has dropped 90% from its ATH. Other notable figures in this memecoin frenzy include Binance founder CZ with the $TST token, Central African Republic President with the $CAR token, and Argentina's President with the $LIBRA token. The $CAR token has fallen 94% from its ATH, while $LIBRA has decreased by 92%. Critics have raised concerns about the impact of these celebrity-endorsed cryptocurrencies, highlighting significant losses for investors amidst the ongoing trend of purchasing these tokens.