Trump's Cryptocurrency, $Trump, Crashes 80% Losing Investors Over $11 Billion

Supporters of Donald Trump’s cryptocurrency, $Trump, have lost over $12 billion in just a month following a massive 80% price collapse.

The cryptocurrency inspired by former President Donald Trump has seen a staggering loss of more than $12 billion in just one month following a huge 80% price collapse.

$Trump, the meme coin launched on January 17, briefly reached a market capitalization of $15 billion on January 19 before plummeting to $2.7 billion by Thursday.

The decline comes amid a broader cryptocurrency market downturn, with Bitcoin (BTC) losing 20% of its value since reaching an all-time high on the day of Trump’s inauguration.

Many investors had poured money into the Trump coin as both a political statement and a speculative venture, but a decline in interest and market instability led to rapid selling.

Trump's 'Crypto President' Promise Faced Scrutiny

The president has repeatedly billed himself as the “crypto president,” going as far as appointing venture capitalist David Sacks as the White House’s crypto tsar. However, some investors grew frustrated with the lack of government-led cryptocurrency initiatives, especially the absence of a strategic Bitcoin reserve.

Meanwhile, Democratic lawmakers are pushing back against political meme coins, citing ethical concerns:

Meme coin mania: A risky bet

Unlike established cryptocurrencies like Bitcoin and Ethereum, which are viewed as potential financial innovations, meme coins are often speculative and lack real-world utility. Several are launched by influencers and public figures, usually experiencing short-lived surges before collapsing.

With Trump’s cryptocurrency suffering a massive crash, it remains to be seen if his crypto ambitions will regain steam—or if this will serve as another cautionary tale for meme coin investors.