Zinger Key Points
- The OFFICIAL TRUMP meme coin caused a trader to lose $2.55 million in hours.
- Traders remain optimistic, calling the drop a mere correction, citing Trump’s vested interest in the project’s success.
- Get Wall Street's Hottest Chart Every Morning
The meme coins of President Donald Trump and First Lady Melania Trump, have taken a sharp downturn after reaching record valuations on their launch day.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend |
| OFFICIAL TRUMP TRUMP/USD | $37.05 | $7.4 billion | -30.7% |
| Official Melania Meme MELANIA/USD | $4.40 | $846.9 million | -55.2% |
Trader Notes: A wallet named Ansem incurred a $2.55 million loss after selling 194,799 TRUMP tokens for $6.83 million.
The wallet had originally purchased them for $9.38 million ($48.14 per token) but sold them at $35.04 each, according to Lookonchain data.
Despite the significant drop, traders remain hopeful.
Crypto trader Mayne suggests entering the market at levels below $35.2 and recommends taking profits above $45.5.
Crypto trader Johnny has doubled down on TRUMP, expecting a rebound fueled by future developments.
He believes the president will not allow the coin to fail prematurely, and with a 60% correction from its peak, he foresees a strong recovery.
Statistics: In its first 24 hours, OFFICIAL TRUMP ranked among the top five cryptocurrencies by trading volume.
At its peak, the combined valuation of Trump meme coins exceeded Warren Buffett's Berkshire Hathaway's top investment, Occidental Petroleum.
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