Memecoin Trump drown 33 % in controversy – TradingView news
Official Trump $ Trump, Mimi’s coin founded by US President Donald Trump, at the center of the controversy. At the time of writing this report, the distinctive symbol decreased by 8 % and 33 % a day and last week, respectively.
According to an exclusive report issued by Reuters, Trump’s invasion of the encrypted currency has proven profitable for the entities behind the Mimi currency, $ Trump. In just two weeks, the currency raised nearly $ 100 million in trading fees.
However, while senior investors have seen tremendous gains, thousands of small merchants finally ended up. The situation has caused concerns about celebrity encryption projects and its impact on the broader market.
Official Trump ($ Trump), Source: Coinmarketcap
High rise and fall
It was launched on January 17, the $ 1 billion in the $ 14 billion in the market evaluation from January 19, before Trump’s opening. However, the gathering did not last longer, and the currency then lost two -thirds of its value. Despite the contraction, the trading activity was intense, as millions of drawings are born.
Data from CoinMarketCAP shows that during the past 24 hours, $ TROMP has recorded more than two billion dollars in trading sizes, the data from CoinmarketCAP. In trading during the day, Memecoin fell to $ 17, a sharp contrast with its highest level ever, which is $ 74 in its first appearance.
According to Blockchain Merkle Science and ChaINALYSIS, trading fees from Trump’s transactions amounted to $ 86 million and $ 100 million by January 30. The main beneficiaries? Entities behind the currency, including Cic Digital, a Trump -owned company.
7/8 Whales dominate property – as of yesterday, about 40 whales carrying $ 10 million+ from $ Trump/ $ Melania symbols represent 94 % of holdings $ Trump Or $ Melania symbols. pic.twitter.com/1wKeeqbfmh
Blockchain data shows that at least fifty of the largest Trump holders have moved away with more than $ 10 million each. However, Chainalysis reported that nearly 200,000 encryption portfolios, who mainly belong to young merchants, are exposed to the stock exchange where $ TROMP was sold for the first time.
Criticism and controversy
Despite its financial success for some, the $ TROMP currency may have been criticized. Industry numbers argue that Trump’s clear lack of participation or understanding of currency mechanics raises concerns.
Critics argue that Trump’s participation in Mimi currency undermines his previous promises to enhance the encryption industry through organizational clarity. Trump has previously expressed interest in the cryptocurrency, especially the Millions of NFT sales in 2022.
Meanwhile, the encryption world continues to watch the Trump $ closely. Some believe that it specifies a dangerous precedent for political figures who benefit from their impact on financial gains, while others see it as a natural development of digital assets.
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