'Patriotic' Meme Coin 'Let's Go Brandon' Sees Another 19% Slump After Donald Trump's Endorsement

An Ethereum ETH/USD based meme-coin called “Let’s Go Brandon” shed another 19% from its price after being endorsed by former U.S. President Donald Trump.

What Happened: On March 11, The Daily Beast reported that Trump had been gifted 500 billion Lets Go Brandon (LGB) tokens by James Koutoulas — an avid supporter of both Trump and the LBG crypto project.

“Sounds good to me. I don’t know exactly what it means, but it sounds good to me,” said Trump, in an interview with David J. Harris.

The price of LGB has now fallen to $0.0000003528, meaning that Trump’s coins have effectively lost more than $11,000 in value since he received them.

According to Harris, the main intention behind the LGB cryptocurrency project is to “support firemen, police, nurses, doctors” who have been laid off because of the vaccine mandate.

“I’ll tell you what, those groups are the right groups to support… They’re great. They’re great patriots, great people,” stated Trump.

Last month, The Daily Beast reported that LGB tokens had seen a 99.5% decline in value over a span of 30 days. One investor reportedly saw his $15,000 investment turn into just a “couple [of] hundred dollars.”

What Else: Of late, even the more mainstream meme-coins, like Dogecoin DOGE/USD and Shiba Inu SHIB/USD, have not seen much positive price action.

DOGE has a market cap of $15 billion and is currently trading at under $0.12. The meme-coin failed to post any significant gains even after Tesla Inc TSLA CEO Elon Musk tweeted that he had not sold any of his holdings and remained bullish on crypto despite turning bearish on the U.S. dollar.

Price Action: Bitcoin BTC/USD was trading at $39,000 down 0.13% in the last 24 hours. Ethereum was trading at $2,589, up 0.39% and Dogecoin was trading at $0.11, down 0.90% over the same period.