Trump official meme coin insider exposed: supporters suffer heavy losses, insiders make big profits!

Trump’s official meme coin ($TRUMP) is now priced at only around $15, down 80% from the highest price of $77! According to The New York Times, the Trump family and partners have earned nearly $100 million from transaction fees, but most of the money has not been cashed out.

Looking back, Trump launched this token just 3 days before taking office, as if making money was one of his top priorities as president.

Supporters of “Make America Great Again” are quite welcoming of this token, after all, this is another way for Trump to monetize the MAGA brand, just like selling hats, NFTs, DeFi platforms, sneakers, and Bibles. However, the meme coin market (with a total market value of around 100 billion US dollars) is actually very complex. Many investors and insiders push the price very high before exiting, but the latecomers end up being completely harvested! According to reports, due to Trump’s recognition of his ‘official’ token $TRUMP, many first-time cryptocurrency buyers have been attracted, and the Trump family has also come under scrutiny for such activities. Critics argue that Trump can change his regulatory rules on cryptocurrency in a way that conflicts with the investment interests of his supporters!

The ones who are truly hurt are Trump’s supporters. For example, Shawn M. Whitson, a small business owner from North Carolina, who excitedly said on the inauguration day, ‘We’ve taken back the country!’ But a few weeks later, he found that his $TRUMP investment became a ‘joke’ and suffered heavy losses.

Some big shots in the cryptocurrency community, like Anthony Scaramucci and Stephen Findeisen, the founders of SkyBridge, immediately accused Trump of manipulating stock prices: big players buy first, then hype up, and finally cash out, leaving small investors bankrupt. Although there is no concrete evidence that Trump or his team manipulated the price, the New York Times quoted data from Nansen, Chainalysis, and researcher Molly White, saying that an account bought $1.096 billion worth of $TRUMP tokens three hours before Trump launched them. The anonymous account later sold these tokens and made a profit of $50 million. Subsequent trades increased their profit to $109 million. Another trader started buying two minutes after the token was launched and made a profit of $2.7 million. 700,000 wallets made money from Trump tokens, but the real winners were 31 early traders who made $669 million in just a few days. However, 813,000 wallets were not so lucky. They either cashed out at a loss or continued to hold the tokens in the first 19 days of trading, resulting in a total loss of $2 billion.

However, the Trump family will not stop because of the controversy surrounding this meme coin. They recently launched an investment platform called TruthFi, claiming to be an alternative investment platform for the ‘Awakening Fund’! What do you think? Do you think the waterfall price of $TRUMP token is due to insider manipulation or uncontrollable factors? Leave a comment in the comment section to discuss! #特朗普 #Memecoin #加密货币骗局 # manipulation