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Trump Meme Coin Soars to $14B Before Crashing, Leaving 764K Investors at Loss
Trump Meme Coin Soars to $14B Before Crashing, Leaving 764K Investors at Loss
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The $TRUMP meme coin, launched by former U.S. President Donald Trump, experienced a meteoric rise to a $14 billion market capitalization before collapsing abruptly. Over 764,000 investors were left holding devalued tokens as the price plummeted, with only 58 wallets managing to secure substantial profits by exiting early.
Centralization concerns emerged as it was revealed that two Trump-affiliated companies control 80% of the token supply. The episode highlights the volatile nature of meme coins, where rapid gains often precede dramatic crashes. Political enthusiasm initially drove adoption, with supporters and crypto speculators fueling the rally across social platforms like Truth Social and Crypto Twitter.
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