đšđ Incredible Fall of TrumpCoin: Minus 90% in a Few Hours! đđš
In a dramatic turn of events, TrumpCoin (DJT), the famous meme token, has plunged 90.8% in just 3 hours! This freefall highlights the unpredictable and volatile nature of meme coins in the crypto world.
At the time of writing, the value of the token, which is not officially affiliated with Donald Trump, has fallen to $0.0004581 according to CoinGecko. At its worst, the coin bottomed out at $0.0001203, marking a dramatic 95% decline.
Despite the steep drop, trading volume exploded to $1.79 million, suggesting increased investor interest. This unusual increase in trading activity could be driven by attempts to profit from falling prices or liquidate positions.
The crypto market as a whole is also experiencing turbulence. Major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have suffered significant price drops, contributing to a massive sell-off in the market.
This general decline is exacerbated by global economic factors, including disappointing results in the technology sector and weak employment data, which have also impacted traditional stock markets.
Multiple reports about the tokenâs origins and affiliations have added to the confusion surrounding DJT. Controversial figure Martin Shkreli has claimed involvement in the creation of TrumpCoin, sparking rumors of official connections to Donald Trump, which Trumpâs inner circle has publicly denied. These claims have muddied the market, leading to speculative trading and confusion among investors.
This uncertainty has fueled price volatility and led to significant betting on platforms like Polymarket, calling into question the origin and authenticity of the token.
Interestingly, several other Trump-related meme coins appear to be doing well, with MAGA (TRUMP) up nearly 20% in the past 24 hours.
On the other hand, a meme coin playing on the name of Donald Trump's Democratic opponent in the upcoming US presidential elections, Kamala Horris (KAMA), has also had a rough time, with its price dropping by 12.4% in the last 24 hours.
Over a seven-day period, KAMA even lost 43% of its value as Harris attempts to reconnect with the crypto industry.
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