Trump Memecoin crash – is the hype over?
The cryptocurrency market faced a sharp pullback following Donald Trump's oath-taking ceremony, with Bitcoin retesting its low of $102,000. Trump’s failure to address cryptocurrencies in his inauguration speech triggered a ripple effect, sparking widespread FOMO and panic selling in the market.
Leading the crash were Solana-based Trump and Melania meme coins, both experiencing dramatic drops in valuation. The Trump Meme Coin plunged over 23% in just one hour and a staggering 38.83% in the past 24 hours, pushing it out of the top 20 cryptocurrencies to the 23rd spot with a market cap of $8.52 billion.
This isn't the first time political-themed coins have faced turmoil. During the election campaign, PolitiFi meme coins similarly collapsed by over 60% within 48 hours. The current scenario mirrors that history, with top altcoins also breaking critical support levels in the aftermath of Trump’s speech.
Despite an impressive start—tied to the buzz around Trump’s reentry into the political spotlight—the lack of acknowledgment for crypto has left investors questioning the meme coin's long-term potential. The crypto community responded negatively, with the global market valuation dropping by over 1%.
Trading volumes for Trump-related tokens hit $39.11 billion, but rising uncertainty and increased liquidations could push these coins even lower. Analysts predict a bearish 2025 outlook, with the Trump Meme Coin potentially ending the year at a low of $35.
Is this the end of the Trump token fever, or just a speed bump on its volatile journey? The next few days will be crucial for its survival.
Leading the crash were Solana-based Trump and Melania meme coins, both experiencing dramatic drops in valuation. The Trump Meme Coin plunged over 23% in just one hour and a staggering 38.83% in the past 24 hours, pushing it out of the top 20 cryptocurrencies to the 23rd spot with a market cap of $8.52 billion.
This isn't the first time political-themed coins have faced turmoil. During the election campaign, PolitiFi meme coins similarly collapsed by over 60% within 48 hours. The current scenario mirrors that history, with top altcoins also breaking critical support levels in the aftermath of Trump’s speech.
Despite an impressive start—tied to the buzz around Trump’s reentry into the political spotlight—the lack of acknowledgment for crypto has left investors questioning the meme coin's long-term potential. The crypto community responded negatively, with the global market valuation dropping by over 1%.
Trading volumes for Trump-related tokens hit $39.11 billion, but rising uncertainty and increased liquidations could push these coins even lower. Analysts predict a bearish 2025 outlook, with the Trump Meme Coin potentially ending the year at a low of $35.
Is this the end of the Trump token fever, or just a speed bump on its volatile journey? The next few days will be crucial for its survival.
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