The once-flying Trump meme coin has crashed, costing investors billions of dollars. The so-called “Official Trump” coin, which once shot up to $75 per token, is currently only worth $16.00. According to grapevines, US President Donald Trump and his friends got away with a fortune, while regular traders suffered a severe blow.
Early Birds Made A Fortune
A few early traders enjoyed staggering profits, according to statistics from Nansen and Chainalysis. Just hours before its formal launch, one anonymous account apparently purchased $1.1 million worth of $TRUMP coins. After selling those for $50 million, the same wallet carried on trading, eventually making an incredible $109 million in total gains.
Another trader who bought in just two minutes after launch walked away with nearly $3 million. In total, more than 30 early birds amassed an astonishing $670 million in gains within days.
Meanwhile, a much larger group of investors wasn’t so lucky. Data shows that over 813,000 wallets—likely retail traders and Trump supporters—either sold at a loss or are still holding coins that have lost most of their value. Collectively, these investors are staring at an estimated $2 billion in paper losses.
Done with this $Trump crap.
Sold it all, what a joke!
— Shawn Whitson (@ShawnWhitson) January 31, 2025
It’s gonna go to 5$
— Professor Oak
(@My_name_is_L69) February 1, 2025
Trump’s Alleged $100 Million Payday
The New York Times reports that the Trump family and their partners raked in nearly $100 million in trading fees. What’s more, most of that money hasn’t even been cashed out yet. The timing of the coin’s launch—just three days before Trump took office—raises eyebrows, especially given his influence over cryptocurrency regulations.
Critics argue that this presents a clear conflict of interest, while supporters see it as just another Trump-branded business venture.
The Trump campaign hasn’t commented on the allegations of insider trading, but political and financial analysts alike are scrutinizing the implications. Figures like SkyBridge founder Anthony Scaramucci and crypto investigator Stephen Findeisen (Coffeezilla) have already slammed the project as a textbook “pump-and-dump” scheme.
Supporters Left Empty-Handed
Many of Trump’s own followers were among the biggest losers in the $TRUMP token’s downfall. One example is Shawn Whitson, a small business owner from North Carolina. On Inauguration Day, he posted enthusiastically about both Trump’s return to the White House and his investment in the coin. Weeks later, his tune changed. “Done with this $TRUMP crap,” he wrote, calling the entire project a joke.
While the Trump family faces criticism, they appear unfazed. They recently announced the launch of TruthFi, a financial platform aimed at being a “non-woke” alternative for investors. Whether the MAGA community will rally behind this new venture remains to be seen, but for now, thousands of investors are licking their wounds from the collapse of the Trump meme coin.
Featured image from Reuters, chart from TradingView
