Trump Tokens in Tailspin: Meme Coin Chaos as Post-Election Plunge Wipes Out Half Its Value
Following Donald Trump’s presidential election victory on November 6, the cryptocurrency market soared, with Bitcoin hitting a new all-time high. However, Trump-themed meme coins fell sharply the next day.
MAGA (TRUMP), the most valued Trump-related meme coin on the market, soared to $4.60 on November 6th when the election results were announced, but has fallen 53% in the past 24 hours, at the time of writing. $1.87 andIt has become。
MAGA/USD 24 hours. Source: CoinGecko
arkham intelligenceAccording to , Donald Trump currently owns approximately 579,290 TRUMP tokens, worth approximately $1 million.
Additionally, the MAGA Hat (MAGA) meme coin similarly rose to $0.0002 after the election victory before plummeting, dropping 55% in the past 24 hours.
Other Trump-related meme coins have fallen as well, with Dark MAGA (DMAGA) down 75%, SuperTrump (STRUMP) down 50%, and MAGA: Fight for Trump (TRUMPCOIN) down 56%. I am doing it.
On November 6, Donald Trump won the presidential election with 295 electoral votes to Kamala Harris’ 226, with 17 votes left to be counted in Nevada and Arizona.
Meanwhile, meme coins are surging, with Dogecoin (DOGE) up 10% to $0.20 at the time of writing. Shiba Inu (SHIB) rose 6%. PEPE, the third largest meme coin by market capitalization, is up 18%.
The plunge in Trump-related meme coins coincided with Bitcoin (BTC) hitting an all-time high of $76,228 on November 6th. Ether (ETH) also woke up from a long slumber, rising 12% to over $2,800 in early morning trading on November 7th.
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