Nearly $10 billion wiped out in President Donald Trump’s meme coin crash
The Rise and Fall of $Trump: A Meme Coin Saga That’s More Dramatic Than Reality TV
If you thought the world of cryptocurrency couldn’t get any wilder, think again. The Trumpmemecoin,inspiredbynoneotherthanthe45thPresidentoftheUnitedStates,hastakenanosedivethatwouldmakeeventhemostseasonedcryptotradersgasp.Overthepast10days,Trumpmemecoin,inspiredbynoneotherthanthe45thPresidentoftheUnitedStates,hastakenanosedivethatwouldmakeeventhemostseasonedcryptotradersgasp.Overthepast10days,Trump has plummeted by a staggering 63%, wiping out a jaw-dropping $9.4 billion in market cap. Let’s break down this rollercoaster ride and see what’s really going on in the meme coin circus.
From Billions to Bust: $Trump’s Freefall
Just a couple of weeks ago, TrumpwassittingprettywithamarketcapofTrumpwassittingprettywithamarketcapof14.9 billion. Fast forward to today, and it’s trading at a measly 27.7percoin,downfromitsprevioushighof27.7percoin,downfromitsprevioushighof74. That’s right—Trumphaslostmorethanhalfitsvalueinlessthantwoweeks.Asofnow,thecoin’smarketcapstandsatTrumphaslostmorethanhalfitsvalueinlessthantwoweeks.Asofnow,thecoin’smarketcapstandsat5.5 billion, which, while still significant, is a far cry from its former glory.
Out of the 1 billion $Trump coins in maximum supply, 200 million are currently circulating in the market. But despite its widespread availability, the coin has struggled to regain its footing after a series of unfortunate events.
The $Melania Effect: A First Lady’s Meme Coin Shakes the Market
The downward spiral of TrumpbeganonJanuary20,thesamedayMelaniaTrump,theformerFirstLady,launchedherownmemecoin,TrumpbeganonJanuary20,thesamedayMelaniaTrump,theformerFirstLady,launchedherownmemecoin,Melania. While Melaniainitiallysawasurgeinvalue,reachingapeakmarketcapofMelaniainitiallysawasurgeinvalue,reachingapeakmarketcapof2.2 billion, it too has since crashed by 82%, now sitting at a modest $396 million.
The launch of Melaniaseemedtotriggerasell−offofMelaniaseemedtotriggerasell−offofTrump, which plummeted to an $8 billion market cap on the same day. This raises questions about whether the hype around these meme coins was driven more by speculation than any real utility. After all, both coins have failed to sustain their initial momentum, leaving investors scratching their heads.
Trump’s Crypto Moves: More Than Just Memes
While TrumpandTrumpandMelania are stealing headlines, President Trump himself has been busy making waves in the crypto world. On January 23, he signed an executive order to create a cryptocurrency working group aimed at proposing new regulations for digital assets. The group is also exploring the creation of a national cryptocurrency stockpile—a move that could have far-reaching implications for the industry.
But that’s not all. Trump Media and Technology Corp., majority-owned by the former president, recently announced the launch of Truth.Fi, a financial service focused on cryptocurrencies. The platform will offer customized separately managed accounts (SMAs) and tailored exchange-traded funds (ETFs), with a particular emphasis on Bitcoin and related securities.
Coinbase Joins the Party
In another twist, Coinbase, one of the largest crypto exchange platforms, has added high-profile members to its Global Advisory Council, including Chris LaCivita, co-manager of President Trump’s 2024 re-election campaign. This move signals a growing alignment between the Trump administration and the crypto industry, as efforts to create a more favorable regulatory framework gain momentum.
What’s Next for $Trump and Meme Coins?
The dramatic rise and fall of TrumpandTrumpandMelania highlight the volatile nature of meme coins, which often rely on hype and celebrity endorsements rather than tangible utility. While these coins can generate massive returns in a short period, they’re equally prone to crashing just as quickly.
For now, $Trump remains a fascinating case study in the world of cryptocurrency—a blend of politics, pop culture, and financial speculation. Whether it can recover from its current slump or fade into obscurity remains to be seen. One thing’s for sure: in the world of meme coins, expect the unexpected.
Stay tuned for more updates from the wild world of crypto—where the only constant is chaos! 🚀
