Donald Trump has officially taken office as the President of the United States, marking a significant moment in American political history. However, the news isn’t all positive. Following his swearing-in, the value of Trump-themed meme coins has plummeted dramatically. In just a 24-hour span, these digital currencies have suffered a staggering market cap loss of approximately $5.49 billion, roughly equivalent to 48,000 crores in Indian Rupees. This infographic highlights the stark decline in Trump Coin value, with a 48% drop noted within the same period. As we delve into the cryptocurrency market’s reaction, it’s essential to look at the broader implications of such volatility in digital assets.
Trump Coin Experiences a Catastrophic Crash
Focusing on Trump Coin specifically, recent statistics reveal a significant crash in its valuation. According to data from CoinMarketCap, Trump Coin peaked at $58.55, only to fall sharply to $31.01 within 24 hours. This indicates an alarming 48% depreciation in just one day. To put this into perspective, the coin’s all-time high was recorded at $75.35, meaning it has now dropped approximately 59% from that peak. As of 2:15 PM, Trump Coin’s price sits at around $38.97 following a continued downward trend of about 32%.
Massive Financial Impact: 48,000 Crores Lost
The most concerning development is the market cap dive resulting from the declining coin prices. An analysis of available data shows that when Trump Coin reached its peak at $58.55, the market capitalization stood at $11.68 billion. However, as its value fell to $31.01, the market cap reduced to $6.19 billion. This results in a substantial market cap loss of $5.49 billion within just 24 hours. Below is a table summarizing the significant financial impacts on Trump Coin:
| Time Period | Price ($) | Market Cap ($ Billions) | Loss ($ Billions) |
|---|---|---|---|
| Peak (24 hours ago) | 58.55 | 11.68 | – |
| Current (Now) | 31.01 | 6.19 | 5.49 |
Bitcoin Faces Decline Amidst Broader Market Slump
In addition to the turmoil surrounding Trump Coin, Bitcoin—the world’s leading cryptocurrency—has also experienced a notable decline. Currently, Bitcoin is trading at $102,060.69, reflecting a decline of 5.36%. Just 24 hours ago, Bitcoin surged to a lifetime high of $109,114.88, illustrating a drop of over 6%. At one point during this fluctuation, Bitcoin prices fell as low as $100,103.96. The overall cryptocurrency market has mirrored these declines, with estimated market caps dropping by over 6% in recent hours. This trend raises concerns about the stability of digital currencies in a volatile economic environment.