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Amid a general downturn in the crypto market, Trump-themed cryptocurrencies are experiencing a notable jump in value. This month, Bitcoin fell to its lowest level in months, with the world's leading cryptocurrency currently trading at 84,184 at the time of writing.

However, Trump's memecoin has surged to $13.24 , marking a 6% increase for the cryptocurrency tied to America's 47th president. Everyday investors have lost $2 billion from Trump's memecoin since its launch, with a new SEC administration under Trump declaring this week that the cryptocurrency is exempt from securities rules.

In contrast to Trump's memecoin, Melania Trump’s memecoin, which launched prior to Trump’s inauguration, has seen a slight dip, and is now priced at $0.84.

Meanwhile, Dogecoin , often regarded as the original memecoin, has suffered a significant drop, and is currently valued at $0.19 — a decrease of over 1.3% . The PEPE memecoin has also fallen to $0.0000079 , reflecting a 2.7% decline.

Despite the volatility in individual coins, the overall market for political coins has grown by 1.8% in the past 24 hours, bringing the total market cap to around $2.9 billion, according to CoinGecko .

As Trump’s memecoin continues to gain momentum, Democratic politicians are calling for greater restrictions on politicians profiting from the launch or promotion of such coins. This week, California congressman Sam Liccardo introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, which seeks to address ethics and conflicts of interest violations tied to memecoins. The legislation would stop lawmakers and their families from promoting or launching cryptocurrencies or profiting from stocks, commodities, or digital assets.

"Let’s make corruption criminal again," Liccardo said. "Our public offices belong to the public, not the officeholders, nor should they leverage their political authority for financial gain. The Trumps’ issuance of meme coins financially exploits the public for personal gain, and raises the specter of insider trading and foreign influence over the Executive Branch."

The bill is unlikely to pass in a Republican-controlled Congress.