Trump's remarks on his namesake MEME coin have caused severe Fluctuation in the market

robot
Abstract generation in progress

ChainCatcher news, according to Decrypt, US President Trump expressed that he “doesn’t know too much” about his namesake Meme coin TRUMP, causing significant market Fluctuation. During a meeting with tech executives, Trump said, “I heard it’s very successful, but I haven’t specifically followed.” After this statement, the TRUMP coin dropped 16% from a 24-hour high of $48.18 to $40.29, but then Rebound to above $43.37. Currently, TRUMP’s market capitalization is about $8.7 billion, with a fully diluted valuation of $43.6 billion. The TRUMP coin has previously experienced significant fluctuations due to the launch of the competitive Meme coin MELANIA by First Lady Melania Trump. On the day of MELANIA’s release, the price of TRUMP coin plummeted by 50%, while MELANIA skyrocketed by 12,000%. Additionally, according to Bubblemaps data, the supply of TRUMP and MELANIA coins is concentrated in the hands of the issuers. An anonymous trader managed to transform a $1 million investment into over $116 million in profits through precise operations. Analysts warn that the Trumps’ Meme coin could exacerbate the division in Congress over cryptocurrency and impact the progress of cryptocurrency regulatory legislation.

TRUMP2.19%
MEME4.22%
MELANIA1.88%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 9
  • Repost
  • Share
Comment
0/400
EMMYLASH07vip
· 01-22 07:27
Crypto Projects Voting Campaign Rally friends to vote for the latest crypto projects JOIN NOW: https://www.gate.io/activities/gate.io project voting, awesome reward to grab cryptovote/?ch=cryptovote&share=1&now_period=am50bS00MA%3D%3D&refUid=17632288
Reply0
Muheeb_007vip
· 01-22 06:53
The bull market is at its peak 🐂The bull market is at its peak 🐂The bull market is at its peak 🐂The bull market is at its peak 🐂The bull market is at its peak 🐂
View OriginalReply0
Crownroyalevip
· 01-22 06:08
well I hope the Trump coin keeps on going higher. I falled to jump on and it pains me but I won't give up
Reply0
Youminvip
· 01-22 04:13
HODL firmly 💎
View OriginalReply0
GateUser-f6fb50dbvip
· 01-22 03:45
HODL Tight 💪
Reply0
GateUser-2ca19bbcvip
· 01-22 03:40
It's all acting to show the leeks.
View OriginalReply1
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)