TRUMP: Ups and Downs in the Cryptocurrency Market

user avatar

by Giorgi Kostiuk

2 years ago

The launch of the meme coin Official Trump (TRUMP) caused a stir in the crypto market, initially soaring above $70, but soon settling back to around $50. However, analysts suggest focusing on other altcoins.

Rapid Ascent of TRUMP

Donald Trump's meme coin, Official Trump (TRUMP), successfully debuted in the market, ranking among the top cryptocurrencies. The token's capitalization instantly exceeded $14.5 billion, surpassing popular tokens like Shiba Inu (SHIB). However, in the last few hours, TRUMP has encountered a slowdown, lowering its capitalization to $9.9 billion.

Analysts' Attention

Despite the intriguing prospects of rapid growth, experts believe that buying TRUMP at its peak levels is unwise. One such analyst, Michael van de Poppe, recommended focusing on altcoins that dropped by 20% over the weekend. Among them are Binance Coin (BNB), Dogecoin (DOGE), Shiba Inu (SHIB). These assets have shown substantial gains since then.

Decline in TRUMP's Value

After some time, TRUMP's price declined, especially after the competitive meme coin launch by the incoming president's wife, Melania Trump. As of today, TRUMP is trading around $50. It is noteworthy that 80% of TRUMP's total supply is held by two entities: CIC Digital LLC and Fight Fight Fight LLC, posing risks for investors.

The market situation with TRUMP's token remains highly volatile. Investments in such assets require caution, and focus should be on more stable cryptocurrencies, especially considering the central role of a few participants in the TRUMP market.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Red Team Established to Tackle AI-Driven Security Threats

chest

The Bitcoin Red Team has been established to proactively identify AI-assisted security vulnerabilities in the Bitcoin ecosystem.

user avatarTando Nkube

TON Validators Prepare for Configuration Vote on New Collator Architecture

chest

TON validators are updating their node software and mytonctrl tooling for a configuration vote on a new collator architecture scheduled for August 21 at 0800 UTC.

user avatarKofi Adjeman

Aave's EMode: Efficiency and Risk in DeFi Lending

chest

Aave's EMode feature allows for efficient borrowing among correlated assets but also increases the risk of liquidation during market stress.

user avatarSatoshi Nakamura

Avalanche Surpasses $3 Billion in Tokenized Real-World Assets

chest

Avalanche's tokenized real-world asset value has surpassed $3 billion, marking a significant milestone in its development as a platform for institutional finance.

user avatarNguyen Van Long

Aave's Debt Concentration Raises Concerns Amid Ethereum Volatility

chest

Aave's debt profile shows that a small number of loan positions account for a significant portion of its total outstanding debt, raising concerns about risk concentration.

user avatarJesper Sørensen

Shift in Airdrop Strategy Reflects Changing Market Dynamics

chest

Optimism's decision to reallocate tokens indicates a shift away from broad airdrops towards more strategic ecosystem investments.

user avatarLucas Weissmann

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.