• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Reasons Behind the Sharp Drop in TRUMP Memecoin Value

user avatar

by Giorgi Kostiuk

2 years ago

The official TRUMP memecoin, which has garnered significant attention over the past two days, experienced a sudden drop following new developments.

The Rise and Fall of TRUMP's Value

Launched by Donald Trump yesterday morning, the TRUMP memecoin experienced a rapid rise, surging above $70 during the day, but later in the evening its value fell to $40.

Melania Trump’s Role in the Decline

The main reason for the drop was the unexpected launch of a new memecoin, MELANIA, by Donald Trump's wife, Melania Trump. Initially, it was thought that Melania's accounts were hacked, but the tweets were also retweeted by Donald Trump's official account.

Investor Reaction and Implications

Investors likely lost confidence in the gravity of the situation, leading to a sharp decline in TRUMP's value. Additionally, reports emerged about a trader who had made $360 million on TRUMP and started selling off his assets.

The TRUMP memecoin situation illustrates how unexpected factors can rapidly affect cryptocurrency values. Investors should be prepared for such market fluctuations.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Injective Seeks SEC Approval to Become a Transfer Agent

chest

Injective has filed Form TA1 with the SEC to register as a transfer agent, aiming to support regulated real-world asset infrastructure on-chain.

user avatarElias Mukuru

The Critical Role of Transfer Agents in Financial Markets

chest

Transfer agents are crucial for maintaining securities ownership records and facilitating transfers, especially as markets transition to on-chain solutions.

user avatarDiego Alvarez

dYdX Chains v51 Upgrade Enhances Market Flexibility with Smart Contracts

chest

The v51 upgrade of dYdX Chains allows users to launch perpetual markets without governance intervention, enhancing market flexibility.

user avatarKenji Takahashi

Sui's Confidential Transactions Aim for Selective Confidentiality

chest

Sui is exploring a selective confidentiality model for its confidential transactions, allowing sender and recipient addresses to remain visible while hiding amounts and balances, addressing privacy concerns for businesses.

user avatarMaria Fernandez

Uniswap Governance Proposes Fee Routing for UNI Token Burns

chest

Uniswap governance is reviewing a proposal to route protocol fees from selected Optimism pools toward UNI token burns, aiming to strengthen the connection between trading activity and token economics.

user avatarGustavo Mendoza

Account Abstraction Set to Transform Crypto User Experience

chest

The introduction of account abstraction aims to address user experience issues in the crypto space, such as intimidating seed phrases and confusing gas fees, with a broader rollout planned for September 2026.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.