An illustration featuring U.S. President Donald Trump holding Bitcoin is displayed outside a cryptocurrency exchange store in Hong Kong, Dec. 5. Reuters-Yonhap

"Official Trump," a meme coin launched by U.S. President Donald Trump, debuted on Korea's virtual asset exchanges on Thursday, exhibiting significant price swings, according to cryptocurrency exchange officials.

Officials are worried that such volatility could deepen negative perceptions of the cryptocurrency market.

As of Thursday, two out of five virtual asset exchanges in Korea — Bithumb and Coinone — support the transactions of Official Trump, launched on Friday in the U.S.

Meme coins refer to cryptocurrencies issued without a practical purpose, primarily for fun. Due to their unlimited or excessively abundant supply, such coins tend to exhibit significant speculation and price volatility. The Official Trump is no exception, experiencing repeated sharp fluctuations.

At Coinone, the coin surged 135 percent to 83,900 won ($58.39) within 30 minutes of its listing on Monday. However, it lost half of those gains the following trading day. Since then, it has seen fluctuations, trading at approximately 55,000 won on Thursday.

Likewise, at Bithumb, the coin's price jumped 34 percent shortly after its Tuesday evening listing, reaching a peak of 71,650 won before sliding back to 55,000 won Thursday.

"Trump is likely to use his coin holders as a powerful community base for collective action," Ju Ki-young, CryptoQuant Founder and CEO, wrote on social platform X. "The coin's value depends entirely on what Trump does."

Following Trump's successful coin launch, some investors speculate that cryptocurrencies linked to Trump or his family could become a trend this year.

"While the artificial intelligence agent narrative previously dominated the market, Trump-themed coins are now emerging as the leading trend. There's growing community support for buying Trump-associated coins," Hwang Hyo-jun, a researcher at Xangle, said.

However, ethical concerns have been raised, with U.S. lawmakers accusing the Trump family of using political influence to promote personal business ventures.

Even within the crypto industry, there is unease about political meme coins. Experts fear that the speculation such coins generate could harm the industry's reputation, particularly as Korea's crypto market moves toward greater institutionalization and self-regulation.

"My concern is that people unfamiliar with the cryptocurrency industry may view the industry solely as speculative," said an industry official, who declined to be named.

With meme coins likely to draw continued investor interest in the foreseeable future, industry insiders emphasize the importance of regulatory compliance.

"The listing of Official Trump cannot be dismissed as the 'hasty listing of worthless coins,'" Daniel Kim, founder and CEO of Tiger Research, said. He likened the situation to stock market phenomena, such as the GameStop short squeeze in 2021.

"The key factors are compliance with listing regulations in each country and the adequacy of investor protection measures. If proper risk disclosures and transparency are ensured, this can be seen as a natural progression within the market," Kim added.