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Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, said the recent slump in Bitcoin (CRYPTO: BTC), as the broader crypto market struggles a year into Donald Trump‘s presidency, may be driven by the rapid rise of speculative meme coins.

In an interview with Business Insider, published on Thursday, Gerber suggested that the introduction and subsequent popularity of Official Trump (CRYPTO: TRUMP) and the First Lady-themed Official Melania (CRYPTO: MELANIA) meme coins have made investors cautious of digital assets. He argues that these meme coins, often backed or introduced by celebrities, result in ordinary…