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Trump's Crypto Coin, Dubbed "FLOK," Tanks in Value After Melania Meme Backlash

A cryptocurrency launched by former President Donald Trump's company has seen its value plummet after a meme featuring his wife, Melania, went viral on social media.

FLOK, which stands for "Folks, Let's Own the Knowledge," was launched in June as a way for Trump to cash in on his massive following and influence. The cryptocurrency's value was initially buoyed by the former president's endorsement, with its value rising to over $1,000 per coin.

However, things took a turn for the worse when a meme featuring Melania Trump began circulating on social media, poking fun at the former first lady's perceived lack of interest in the cryptocurrency. The meme, which featured a photo of Melania with a caption reading "When you're trying to make money off your husband's name but you're really just trying to make a buck," quickly went viral and was shared thousands of times.

As a result, the value of FLOK began to plummet, with its value falling to just $200 per coin by the end of the week. The cryptocurrency's market capitalization has also taken a hit, falling from over $1 billion to just $400 million.

Trump's company has not commented on the decline in FLOK's value, but experts say that the backlash to the Melania meme has likely had a significant impact on the cryptocurrency's viability.

"Social media can be a powerful force in shaping public opinion and influencing market trends," said cryptocurrency expert, John Smith. "In this case, the backlash to the Melania meme has likely had a significant impact on FLOK's value and market capitalization."

It remains to be seen whether FLOK will be able to recover from its recent decline, but for now, it appears that the cryptocurrency's value is stuck in a rut.