President Donald Trump’s meme coin on Solana was the biggest thing in Crypto just less than two weeks ago, but both the prize and the daily trade volume have fallen considerably in recent days. And under the remaining Official ((Trump) Holders, it seems that some have grown tired of “win. “
Despite offers from popular trading locations such as Robinhood, Binance and Coinbase, Trump’s trade volume has been taken. The Meme Munt saw $ 36 billion in trade volume in addition to the inauguration of Trump on January 20, but that daily brand fell by 90% to $ 3.5 billion on Wednesday.
The price is pressed in the same way, with the coin on a current number of $ 26.80. That is 64% lower than the peak and remains registered close to the lowest price since the inauguration of Trump.
Because centralized exchanges do not often keep user funds about portfolios, it is difficult to get an accurate picture of how Trump’s distribution has shifted during its two -week history.
Still, facts From Dex Screener, the number of unique, on-chain Trump holders shows a total of 691,300 from Thursday. On the eve of Trump’s inauguration, that figure was 18% higher, according to a dune dashboardWhat suggests that one in five portfolios – or 125,000 portfolios – has since been cashed in.
After his debut, the Trump-linked meme coin shot in less than 36 hours to a market capitalization of $ 14.5 billion, and passed Crypto Majors such as Shiba Inu With clear ease. It was soon the second largest meme coin by Market Cap, only beaten by Dogecoin.
The launch of First Lady Melania Trump’s own meme coin Two days later, however, made a budding Trump market, so that the price of the active in an hour refueled 44%. Since then, the price of the Trump -Token has not succeeded in reclaiming his previous peak of $ 73.43, because some traders seem to continue.
Within the cryptosphere, Trump’s meme -Munt was at least briefly seen as a development that is more important than Trump brand NFTs or one Defi -protocol What he is a consultant for. With many newcomers who dive on the Meme Coin market for the first time, many considered it an onboarding event.
Data that is shared by the blockchain analytics firm chainalysis supports that theory. In one after On X (previously known as Twitter) the company said: “These are largely new retail buyers.” About 50% of the portfolios that Trump held and the meme mint of the First Lady had never bought a Solana Altcoin, while 46% of the buyers created a wallet on the day they bought one token, Chainalysis said.
Although Trump’s trade volumes have cooled considerably since the striking debut, Token still has a series of fiery supporters online.
About Truth Social, the social media platform of Trump, a vocal user pushed back against the labeling of the President’s meme “just a” pump and dump, “” ” row That instead it must be considered ‘history in the making’ and ‘the beginning of the Golden Age’.
The members of the platform were given a lead when it came to Trump’s debut. The social account of the president of the president promoted the meme currency 45 minutes for It is X counterpart. However, that delay also fed the initial skepticism under Crypto Twitter Die-hards about whether or not the coin was legitimate.
In the heat of the moment, some users on X described Trump’s launch as a huge paradigm shift. Nowadays, other X users look at the Trump card, repetition The timeless plea of the crypto community: “Can the developers do something?”
The Trump token wins at least more use of the president’s own large-scale Merchand operation. On Thursday, gettumpwatches.com, gettumpfragrances.com and gettumpsneakers.com were to sellers of official merchandise began to accept Trump for payments.
Published by Andrew Hayward
Daily debrief Newsletter
Start every day with the best news stories at the moment, plus original functions, a podcast, videos and more.