The [Trump] meme coin’s value quickly rocketed to around $75. It dropped shortly thereafter but saw a bump in April when Trump announced “the most EXCLUSIVE INVITATION in the world”: for the top 220 investors in $TRUMP coin to enjoy a private dinner with the president at his Virginia golf club.
Since then, the Trump coin’s value has slumped again, to $9, having sunk 88 percent from its January high.
You may also recall—if you strain your memory further—that the first lady, Melania Trump, is in the meme coin business as well. Her $MELANIA coin has followed a similar trajectory to her husband’s coin, seeing a precipitous, 98 percent decline in value from its $8.50 peak in mid-January.
There is a scheduled unlocking of the coins held by the individuals who created the coins.
They still hold a massive number of coins, the next major unlock is in January.
Expect some pump scheme leading up to that moment so they can dump the coins at an elevated value.
The schedule goes into 2028. This is all public information but somehow the news never bothers to include it. This knowledge is how one extracts value from the uninformed.
lol grifters gonna grift. make m’uricah great again!
It was meant to. It was just a way to accept bribes.
Release the Trump/Epstein files
Anyone who bought that shit deserves to lose their money
Guys those coins are garbage! Join me in my new lemmyhavit.coin! We will solve all the problems the old coins had. Just invest, keen investing and give us some time.
In May, the Financial Times published an investigation into Melania Trump’s meme coin, revealing that a coterie of traders reaped nearly $100 million by buying $MELANIA coin minutes before it was publicly announced, before off-loading most of their holdings after its value spiked following the announcement.
The first lady’s meme coin is now worth less than a quarter of a dollar.
I don’t feel bad for the rubes who got taken by this.
The SEC is in the process of changing the rules around 401ks and Pensions, such that these big funds can include cryptocurrency in their portfolios.
Won’t be long before we’re all holding the bag on these Shitcoins.
Eh, that would be like packing your 401k with penny stocks. Seems unlikely.
Probably not the first “pump and dump” either of them has been a part of…
I’m sure there will be another pump (and subsequent dump) the next time Trump wants a bribe.
She’s worse in business deals than Trump.
It wasn’t a business deal. It was a fraud she profited from.
Eh, this was always the goal. I’d say they played it perfectly, took billions from their deluded cult followers to enrich themselves.
Which is ironically quite the accomplishment!
Oh no how unfortunate.
