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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Warren and Trump Team Up for Credit Card Interest Rate Cap

Senator Elizabeth Warren announced her readiness to collaborate with President Donald Trump to implement a 10% cap on credit card interest rates, aiming to provide relief for millions of Americans burdened by high credit card debt.

user avatarAyman Ben Youssef

Broadridge and Dinari Integrate Proxy Voting for Tokenized Stocks

Broadridge and Dinari have integrated their systems to allow eligible holders of Dinaris dShares to exercise voting rights through established proxy voting infrastructure.

user avatarTando Nkube

Google Launches TPU 8tx and TPU 8i Max AI Systems to Challenge Nvidia

Google has launched TPU 8tx and TPU 8i Max AI systems to enhance privacy and memory capabilities, aiming to compete with Nvidia.

user avatarKofi Adjeman

Nvidia's Stock Plummets Amid Scandal and Google’s AI Chip Launch

Nvidia's stock has dropped significantly following CEO Jensen Huang's admission of an extramarital affair, coinciding with Google's announcement of new AI chips.

user avatarNguyen Van Long

FATF to Review Jurisdictions with Weak Virtual Asset Oversight

The Financial Action Task Force (FATF) will review jurisdictions with longstanding shortcomings in virtual asset regulation to identify necessary actions for the upcoming plenary.

user avatarSatoshi Nakamura

Stellar Development Foundation Makes Strategic Investment in Marketnode

On October 29, the Stellar Development Foundation announced a strategic investment in Marketnode to enhance institutional access to tokenized investment products in the Asia-Pacific region.

user avatarJesper Sørensen

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.