The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.

Meme coins have become a significant part of the cryptocurrency landscape, blending humor, community engagement, and speculative trading. These tokens, often inspired by internet culture, started with Dogecoin and have now expanded into a wide variety of coins that dominate discussions across crypto communities.

Roughly 80% of the coin supply will be distributed to its founders over the course of three years – and that could leave everyday investors holding the bag.