CHART: President Trump's memecoin is doing poorly
The “official” Donald J. Trump memecoin, TRUMP, has done extraordinarily poorly despite endorsements from his children. It was launched on January 18 this year, two days before Trump’s inauguration, and data from CoinGecko says that its market capitalization was $5.8 billion. This was immediately valuable to the Trump family, with the official website noting that 80% of the total supply was held back for the “creators and CIC Digital” and would be valued at $4.6 billion on this first day of trading. CIC Digital is a firm linked to the Trump family. Read more: ANALYSIS: Mapping Donald Trump’s growing crypto empire Eric Trump endorsed this coin on the day of its launch, stating, “$Trump is currently the hottest digital meme on earth.” Donald Trump Jr. endorsed it a day later, stating literally the exact same thing. It quickly reached a peak market capitalization of approximately $8.8 billion on January 22, which ...