{"id":49550,"date":"2025-03-04T17:39:56","date_gmt":"2025-03-04T17:39:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=49550"},"modified":"2025-03-04T17:39:56","modified_gmt":"2025-03-04T17:39:56","slug":"trump-related-meme-coins-in-freefall-as-crypto-market-takes-a-hit","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=49550","title":{"rendered":"Trump-Related Meme Coins in Freefall as Crypto Market Takes a Hit"},"content":{"rendered":"

TL;DR<\/span><\/strong><\/p>\n

Trump-themed memes followed the broader decline of the cryptocurrency sector, tanking by double digits.<\/span>
\nOfficial Trump has slipped below $12.50, but some analysts believe a resurgence could be on the horizon.<\/span><\/p>\n

<\/a><\/h2>\n

The Major Collapse<\/span><\/h2>\n

The brief pump in the cryptocurrency sector on March 2 and the early hours of March 3 <\/span>was abruptly suspended<\/span> by another <\/span>huge<\/span> correction<\/span>.<\/span><\/p>\n

The massive volatility was likely caused by Donald Trump\u2019s actions.<\/span> First, the American president <\/span>confirmed<\/span><\/a> that his administration will move forward <\/span>with the plans<\/span> to establish a strategic crypto reserve that will include leading assets like BTC, ETH, XRP, ADA, and SOL. The involved cryptocurrencies and the entire market reacted more than positively to the news.<\/span><\/p>\n

On March 4, though, some of the previously announced trade tariffs <\/span>came<\/span><\/a> into effect<\/span>. From today, the US will slam Canada and Mexico by 25% on most imported stocks, while Canadian energy will be the subject of a 10% duty.<\/span><\/p>\n

The escalating trade war <\/span>had a negative effect on<\/span> the financial markets and the cryptocurrency industry. Bitcoin (BTC) tumbled below $83,000, while Ethereum (ETH) <\/span>sank<\/span><\/a> to a 16-month low.<\/span><\/p>\n

The meme coin sector was not spared and <\/span>is also covered<\/span> in red. Trump-themed memes, such as Official Trump (TRUMP), MAGA (TRUMP), MAGA: Fight for Trump (TRUMPCOIN), and others are among the biggest losers, nosediving by double digits in the past 24 hours.\u00a0<\/span><\/p>\n

It is worth mentioning that the <\/span>aforementioned tokens<\/span> were at the forefront of gains over the past several months. Official Trump peaked above $72 hours after its launch in January this year, whereas its market capitalization <\/span>skyrocketed<\/span><\/a> to a whopping $14.5 billion. Thus, it briefly became the second-biggest meme coin, trailing only behind Dogecoin (DOGE). <\/span><\/p>\n

Currently, the asset trades at less than $12.50, representing an 82% collapse from the all-time high and an 18% decline on a 24-hour basis.<\/span>\u00a0<\/span><\/p>\n

<\/a>TRUMP Price, Source: CoinGecko<\/p>\n

MAGA (TRUMP) was among the market\u2019s top performers last summer. In June 2024, its price exploded beyond $17, while the market cap neared $800 million. Over the past months, it has been on an evident downtrend, and as of the moment of writing these lines, it hovers at a mere $0.32 (a 98% crash from the peak level).<\/span><\/p>\n

The huge pullback of these assets showcases the volatile nature of the meme coin sector, which can cause crucial losses to inexperienced investors. Those about to enter the ecosystem should do proper research beforehand and invest only as much as they are ready to lose.<\/span><\/p>\n

Meanwhile, these particular tokens related to Donald Trump are expected to witness additional volatility in the near future since they often react to announcements or actions taken by America\u2019s leader.<\/span><\/p>\n

Is TRUMP\u2019s Comeback in the Cards?<\/span><\/h2>\n

Despite TRUMP\u2019s recent negative performance, some industry participants believe a comeback is not out of the question. The X user CryptoELITES <\/span>set<\/span><\/a> $25 and $45 as short-term targets, envisioning an eventual rally to as high as $75.\u00a0<\/span><\/p>\n

Others, on the other hand, have previously criticized the asset\u2019s existence. Balaji Srinivasan (the former CTO of Coinbase) <\/span>claimed<\/span><\/a> that such tokens only damage the reputation of the crypto sector instead of legitimizing it.<\/span><\/p>\n

The<\/span> American billionaire Mark Cuban shared a similar thesis,\u00a0<\/span>opining<\/span><\/a> that the introduction of Trump\u2019s meme coin is\u00a0<\/span>nothing but<\/span> harmful to the industry.<\/span><\/p>\n

\u201cThis is the biggest bunch of self-serving Bullsh*t I have ever heard. In your world, there is no ownership. Just speculation,\u201d he said.<\/span><\/p>\n

The post Trump-Related Meme Coins in Freefall as Crypto Market Takes a Hit<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Trump-themed memes followed the broader decline of the cryptocurrency sector, tanking by double digits. Official Trump has slipped below $12.50, but some analysts believe a resurgence could be on the horizon. The Major Collapse The brief pump in the cryptocurrency sector on March 2 and the early hours of March 3 was abruptly suspended […]<\/p>\n","protected":false},"author":0,"featured_media":49551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49550"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49550"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49550\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/49551"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}