The cryptocurrency market has been abuzz in recent days with massive sell-offs in Trump-related coins and rumors that former US President Donald Trump is planning to launch his own meme coin project. These developments worry both investors and those who follow the cryptocurrency industry closely.
Decrease in the price of meme coin MAGA
The price of MAGA (TRUMP), which is identified with Trump and has become a popular meme coin, lost 31.93% in the last 24 hours and fell to $ 7.67. The reason behind this decline lies in the fact that large investors, known as whales, are selling their cryptocurrencies. According to CoinMarketCap data, the profit rates earned by whales who have recently disposed of a significant amount of TRUMP tokens are astounding.
- 0x52C0: He sold 171,842 TRUMP tokens for $1.44 million, making a profit of $3.7 million (approximately 1428% return).
- sighduck.eth: He sold 173,542 TRUMP tokens for $1.25 million, making a profit of $1.88 million (approximately 1500% return).
- 0x35D1: He sold 128,059 TRUMP tokens for $703,600, making a profit of $648,000 (approximately 1164% return).
These high volume sales created a domino effect, leading to a widespread sales wave in the market. The desire of investors to realize their profits and the atmosphere of uncertainty created by TrumpCoin rumors are seen as the main factors that drag down the price of MAGA coin.
DJT Coin rumors disturbed the market
Adding to the market turmoil are rumors that Donald Trump plans to launch an official cryptocurrency called TrumpCoin on the Solana blockchain. This new coin, which is expected to have the ticker DJT, has caused concern, especially among investors who hold TRUMP and other Trump-related meme coins. This development led many investors to re-evaluate their positions and sell their assets.
The impact of the DJT rumors was not limited to TRUMP. Other Trump-themed meme coins such as Tremp (TREMP) also experienced significant declines. TREMP lost 32% in value, reflecting overall market volatility in Trump-themed tokens.
Is DJT Coin really related to Trump?
The reality behind DJT coin still raises doubts. While some experts think the token may be linked to Trump, others say it may be a scam. Investors betting on cryptocurrency prediction platform Polymarket see the odds of Trump issuing a token by Friday at just 7%.
If DJT coin rumors are true, it could have serious implications for the cryptocurrency market, especially tokens linked to political figures. Experts warn that if DJT becomes real, it could negatively impact the market value of SOL coins. On the other hand, if the token is a scam, it is predicted that it may damage Solana’s reputation and cause a decrease in SOL coin prices.
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