- $Trump, launched and announced Donald Trump himself on Friday, January 17, 2024, shot to the moon almost immediately, with several Trump supporters and crypto enthusiasts latching onto it
- By 12:55 pm (Nigerian time) on January 19, 2025, the coin hit its peak market cap of $14.95 billion
- After $Melania started getting traction, $Trump fell from $74.5 to $53 and further down to $40, and its market cap declined from $14.9 billion to $10 billion and further down to $8.1 billion and $7.8 billion
The meme coin of the moment, which printed several millionaires over the weekend, $Trump, has witnessed massive sell-offs. The coin has declined from a high of over $74 to trade at $39. This happened just after another meme coin, $Melania, was launched.
$Trump, launched and announced by soon-to-be-inaugurated United States President Donald Trump himself on Friday, January 17, 2024, shot to the moon almost immediately, with several Trump supporters and crypto enthusiasts latching onto it. $Trump surged continuously and so quickly that just after hours, its market capitalisation hit billions, so much so that by 12:55 pm (Nigerian time) on January 19, 2025, the coin hit its peak market cap of $14.95 billion. This peak brought it to the top 12 coins by market cap.
The price followed the same trajectory: It continued to surge until it hit $75, with over $18 billion in trading volume, by 12:40 p.m., Nigerian time, on January 19, 2025.
After hitting the highs, the coin began witnessing sell-offs. However, the sell-off and a massive decline set in just after the launch of $Melania, the meme coin themed after Trump’s wife, Melania Trump. After $Melania was announced and started getting traction, $Trump fell from $74.5 to $53 and further down to $40, and its market capitalisation declined from $14.9 billion to $10 billion and further down to $8.1 billion and $7.8 billion. All these massive declines happened in less than 2 hours, according to Coinmarketcap data. Thus, in less than two hours, the sprinting $Trump lost over $7 billion of its market value.
The decline means that even though the coin might have produced several millionaires, those who entered when the price was high might have lost some money.
At the time of writing, $Trump was trading at $53, down 25.77% in the past day, with a $43.97 billion trading volume. The market cap has also slightly improved to $10.83 billion, down 25%.
$Melania has been quite impressive since its launch: the market cap jumped from almost zero at 3:20 am (Nigerian time) on January 20, 2025, to $1.8 billion about 10 minutes later, according to Coinmarketcap data. The price reached a high of $13.64 around 8 am (Nigerian time) on January 20, 2025, with a trading volume of $3.2 billion. At about the same time, the market cap peaked at $2.21 billion.
At the time of writing, $Melania was trading at $9.85, up 34.39% in the past 24 hours, with a market cap of $1.88 billion and a trading volume of $5.11 billion.
Man who threw away hard drive with $770M worth Bitcoin loses latest chances of recovery
Meanwhile, TheRadar earlier reported that Judge Keyser KC, the Circuit Commercial Judge for Wales in the United Kingdom, has dashed the hopes of James Howells, an IT engineer from Newport, who threw away his hard drive containing more than $770 million worth of Bitcoin.
Howells mistakenly threw away the hard drive containing 8,000 Bitcoin, which he mined in 2009 and is now valued at about $770 million. The hard drive eventually ended up in a landfill.
