{"id":35541,"date":"2024-08-06T11:56:27","date_gmt":"2024-08-06T11:56:27","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-meltdown-sends-trumpcoin-djt-crashing-over-90\/"},"modified":"2024-08-06T11:56:27","modified_gmt":"2024-08-06T11:56:27","slug":"crypto-meltdown-sends-trumpcoin-djt-crashing-over-90","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-meltdown-sends-trumpcoin-djt-crashing-over-90\/","title":{"rendered":"Crypto meltdown sends TrumpCoin (DJT) crashing over 90%"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/01_Bitcoin-crash-upsets-traders-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/01_Bitcoin-crash-upsets-traders-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/01_Bitcoin-crash-upsets-traders-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/08\/01_Bitcoin-crash-upsets-traders-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>TrumpCoin crashed by 95%, plummeting from $0.00555 to a low of $0.0001203.<\/li>\n<li>Trading volume surged by 169%, reaching $8.91 million despite the price drop.<\/li>\n<li>Controversy surrounds TrumpCoin\u2019s origins, with claims involving Donald Trump denied.<\/li>\n<\/ul>\n<p>In a dramatic turn of events, TrumpCoin (DJT), a Solana-based meme coin using former President Donald Trump\u2019s name and image, has experienced a steep price drop. The token\u2019s value plummeted by 95%, falling from $0.00555 to a low of $0.0001203 before recovering to around $0.00042 at press time.<\/p>\n<p><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-218045\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/08\/TrumpCoin-price-chart.png\" alt=\"TrumpCoin (DJT)\" width=\"1379\" height=\"648\"\/><\/p>\n<p>Despite the massive price drop, trading activity for TrumpCoin surged. Data from Coinmarketcap reveals a 169% increase in trading volume, which stood at $8.91 million at press time.<\/p>\n<p>While some may link the surge in trading activity to investors trying to offload their holdings, the total value locked (TVL) in TrumpCoin stands at approximately $23.1 million, reflecting ongoing investor interest despite the sharp price decline.<\/p>\n<h2>Why has TrumpCoin crashed?<\/h2>\n<p>The broader crypto market downturn significantly influenced TrumpCoin\u2019s fall. A large-scale sell-off in the crypto market saw <a href=\"https:\/\/coinjournal.net\/bitcoin\/what-is-bitcoin\/\">Bitcoin<\/a> and <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> prices drop by 10% and 18%, respectively, erasing at least $500 billion from the market capitalization within three days.<\/p>\n<p>The equity markets were also affected, with the S&amp;P 500 falling 4.4%, driven by weak employment data and disappointing earnings from major tech firms.<\/p>\n<p>Prior to the current market turmoil, Martin Shkreli, infamously known as \u201cPharma Bro,\u201d claimed his involvement in creating TrumpCoin, sparking rumours that the project had official ties to Donald Trump.<\/p>\n<p>Shkreli alleged that Trump and his son Barron were behind the memecoin, a claim that Roger Stone, a close aide to Trump, vehemently denied. This controversy led to over $6.3 million in bets on the authenticity of TrumpCoin on the crypto betting site Polymarket.<\/p>\n<p>Despite reaching an all-time high of $0.01806 in June 2024, TrumpCoin has faced a steep decline, marking an all-time low of $0.0001203 on August 6, 2024.<\/p>\n<p>The meme coin situation remains fluid amid the ongoing cryptocurrency meltdown and the controversy around who is behind the meme coin.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/crypto-meltdown-sends-trumpcoin-djt-crashing-over-90\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) TrumpCoin crashed by 95%, plummeting from $0.00555 to a low of $0.0001203. Trading volume surged by 169%, reaching $8.91 million despite the price drop. Controversy surrounds TrumpCoin\u2019s origins, with claims involving Donald Trump denied. In a dramatic turn of events, TrumpCoin [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":35542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35541"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35541"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35542"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}