Once a Trump meme coin in flight crashed, costing investors billions of dollars. The so-called “official playing cards” coin, once up to $75 per token, is now worth $16.00. According to Grapevine, President Donald Trump and his friends missed out on a lot of money, but regular traders were hit hard.
Early birds have made a lot of money
some Early traders According to statistics from Nansen and Chain Analysis, they enjoyed the incredible benefits. It appears that a single anonymous account purchased $1.1 million worth of playing cards coins a few hours before its official launch. After selling them for $50 million, the same wallet made the transaction, eventually earning a total of $109 million.
Another trader, who bought it just two minutes after its release, walked away nearly $3 million apart. In total, more than 30 early birds accumulated an astonishing $670 million in profit within days.
On the other hand, a much larger group of investors was not so lucky. Data shows that over 813,000 wallets (thin retailers and Trump supporters) have either lost most of their value or are still holding coins. Collectively, these investors look at an estimated $2 billion in paper loss.
I did it with this $Trambling Junk.
What a joke they sold it all!
– Shawn Whitson (@shawnwhitson) January 31, 2025
It'll be $5
– Professor Oak🌳 (@my_name_is_l69) February 1st, 2025
Trump's billed paydays
The New York Times reports Trump's family and his partners raked together for almost $100 million in transaction fees. Furthermore, most of that money has not yet been cashed out. The timing of the coin launch three days before Trump took office has raised eyebrows, especially with his influence on cryptocurrency regulations.
Critics argue that this presents a clear conflict of interest, and supporters see it as just a Trump brand business venture.
Trump's campaign has not commented on insider trading allegations, but political and financial analysts have scrutinized the implications as well. People like Skybridge founder Anthony Scaramucci and Crypto investigator Stephen Findeisen (Coffeyzilla) have already denounced the project as a “pump and dump” scheme in the textbook.
Supporters left empty-handed
Many of Trump's followers were one of the biggest losers in the $Trump Token downfall. One example is Sean Whitson, owner of a small business in North Carolina. On inauguration day, he eagerly posted about Trump's return to the White House and his investment in the coin. A few weeks later, his songs changed. “I did this $Trump crap,” he wrote, calling the entire project a joke.
Trump's family faces criticism, but they don't seem to be overwhelmed. They recently announced the launch of TruthFi, a financial platform aimed at being a “unwakening” alternative for investors. It is still unclear whether the Magazine community will gather behind this new venture, but for now, thousands of investors have licked the wounds from the collapse of the Trump Memecoin.
Special Images from Reuters, TradingView Chart
