Cryptocurrency trader lost $ 207,000 in an hour on TRUMP meme coin

Note: not investment advice!

An American trader lost $ 207,000 in just one hour, succumbing to the hype around the TRUMP meme. The reason for the sharp jump and subsequent collapse was Donald Trump’s statement on Truth Social on March 23, when he wrote: «I LOVE $TRUMP». This instantly caused the token to rise by 13%.

It is known that the same trader had previously earned $ 108 million on investments in TRUMP, so when he saw the new surge, he decided to repeat his success and bought $ 5 million worth of tokens. However, within an hour, the market cooled down as the price plummeted, and the trader was forced to take a loss.

The TRUMP coin, created on the Solana blockchain SOL $124.84 Binance-Peg SOL 0.30% Market capitalization $0.14 billion VOL. 24 hours $0.23 billion before Trump’s inauguration in January 2025, initially had a billion tokens in circulation. Of these, only 200 million went to the market, while the rest — 800 million — are controlled by entities associated with Trump’s inner circle. The unlocking of these assets was delayed for three years.

At first, TRUMP showed rapid growth — the price rose from less than $ 10 to $ 75, and the market capitalization exceeded $ 15 billion. However, by March 24, the token had already fallen to $ 11.95, losing 70% of its peak.

This story has once again sharpened discussions about the risks of meme coins and possible market manipulation. Especially because the TRUMP token is directly linked to the business interests of the Trump family. The US has even introduced the MEME Act, a bill that would prohibit officials and their families from making money from such assets.

The No Worries editorial team strongly advises readers not to invest their own money in dubious crypto projects and little-known digital assets!