It has been a brutal market in recent weeks. But this morning, most of the big meme coins have finally seen a lot of welcome bouncing.
That said, the official token of Trump (Trump) lags behind his meme coin competitors, publishing relatively, while President Donald Trump’s trade war is raging.
Sector leaders Dogecoin (Doge), Shiba Inu (Shib) and Pepe (Pepe) have tied 9.2%, 7.9%and 16.3%respectively. Although the fourth largest meme coin through market capitalization, the official Trump (Trump) has only risen 1.5%. It has now fallen by 21% during the week – the biggest weekly loss in the top five meme coins per market capitalization.
Trump launched only a few days before the inauguration of the president and sent the market to euphoria when traders believed that a new era was for us.
However, when the First Lady launched its own token, Melania Meme (Melania), the Trump crashed 32%for six hours. Both tokens have usually been in red since then. Trump token has now reduced 85% from its highest to a market capitalization of $ 2.09 billion.
Trump was $ 15.16 billion at its peak. That made it the second largest meme -mint by Market Cap.
From 11 February, 9.6% will increase on countless markets – a prediction market that is owned by Decrypt Multi -company Dastan – Often that Trump will end in the first quarter as the TopMemin coin per market capitalization. But from today, Trump’s share has shrunk in only 2.8%, with 68% of the gamblers who think it stays in fourth place and 15% think it is completely from the top 10.
From the top 10 of Meme Coins of Market Cap, only Brett (Brett) has performed worse in the last seven days than Trump, according to Coingecko data, which dropped 25%.
The poor execution of the president’s official meme is probably a symptom of Trump that falls out of the grace in the eyes of the audience.
According to Pollster Yougov, 38% of American adults believe that Donald Trump has so far done a “much worse” work in his second term than they had expected. Similarly, Trump’s disapproval started from 45.8% the week after the inauguration to 48.9% last week. As a result, 51% of our registered voters now find the president unfavorable.
Trump’s second term has already been filled with drama and controversy, including a public argument with President Volodymyr Zelensky from Ukraine. But the most important thing, at least for crypto investors, has been his trade war with the largest trading partners of the US.
The 25% rate of Trump on steel and aluminum recently came into force. This has ensured that the European Union has announced that it will take revenge with ‘countermeasures’.
As such, the S&P 500 has also fallen 3.6% in the last five days and has expanded monthly loss to 8.4, according to TradingView. With the broader traditional market bleeding, high risk assets such as meme coins often become a hit.
That said, despite the continuous decline of the S&P 500 of 0.76% in the day, the total meme coin market, according to Coingecko, bounced 8%.
Perhaps Fartcoin – who has won 21% in the past day – is really the future of finance.
Published by Stacy Elliott.
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