Nearly 10 billion dollars wiped out in President Donald Trump's meme coin crash

President Donald Trump's meme coin $TRUMP has dropped 63 per cent in value in the past 10 days. The coin is down from 14.9 billion dollars as of January 20 to 5.5 billion dollars on Thursday, wiping off around 9.4 billion dollars in market cap. At the time of filing this report, TRUMP was trading at 27.7 dollars in comparison to 74 dollars on Monday previous week.

Out of the 1 billion maximum supply of Trump meme coin, 200 million coins are currently circulating in the market and are in public hands.

Importantly, the coin has been unable to see full recovery ever since it dropped following the launch of Melania meme coin launched by Donald Trump's wife and first lady Melania Trump on January 20. Trump coin had plummeted to around 8 billion dollars market cap on the launch day of the Melania coin.