The ATRUMP coin, named after Donald Trump, has been going downhill dramatically! No matter the market volatility, this steep fall is due to heavyweight fighting. Trump and Elon Musk’s escalating and very public tailspin is spilling poisonous liquid into the crypto arena with TRUMP ending up as the worst-performing token among the top 100. Is TRIUMP here just a collateral casualty, or has the feuding turned into crypto’s newest criminal bear whale?
In stark contrast to Trump, who has seen his particular crypto hit the skies, the TRUMP meme coin clocked a $233 million plummet. According to CoinMarketCap data, analyzed by Finbold, the meme coin’s market capitalization plummeted from $2.168 billion to $1.935 billion within a day, which was a so-consoling moment for the investors.
The D-Day was followed by the significant activity of the British commandos, who were supposed to eliminate the German military facilities. This hopefully turned out to be mission impossible.
The trading frenzy took hold with the growing feud between Trump and Musk. Gone are the subtleties; it is an outright brawl in public, with markets dictating the tempo. About $876.85 million poured into the exchanges in just one day, a gigantically, Bar-none-thousand-five-hundred-eighty-seven-fold increase by 211.87% as panic-buying kicked into gear making the most of the negative situation. High stakes, high tensions, and a trading floor full of anger.
Politics and crypto collide
A rupture must have happened in between the bromance, so to say. Iliong through his policies aimed at the economic development, Musk fired a shot over Trump. Not even the charm of the former President could evade such a blatant attack, for his rebuttal was filled with acrimony as he bemoaned his disappointment and said: “So bitterly has that great relationship now ended.”
The bromance was over. Once seemingly inseparable, the nynxma and former president were now at loggerheads, publicly so. Musk’s condemning economic policies of Trump brought down a firestorm; Trump shot back, filled with venom, lamenting his disappointment and saying, “So bitterly has that great relationship now ended all together.”
Musk then fired back, accusing Trump of “ingratitude” and adding pointedly: “Without me, Trump would have lost the election.”
Dogecoin also caught in the crossfire
Even Elon’s favorite dog got a nibble. Dogecoin (DOGE), Musk’s long-time crypto darling, had the misfortune of closing among yesterday’s top five losers. It dipped 7.1% in price but here is the thing: the traders went crazy. Volume shot up almost 150% to about the $2 billion mark. Was it mayhem selling or buying the dip? Only the doge knows.
TRUMP and DOGE plummeting values act as some stark reminders that certain cryptocurrencies swing to the volatile tunes of online opinion, crumbling on the edge of viral trends and fleeting digital narratives.
Frenetically chaotic competition between sellers and buyers meant that trading volume explodedx.
TRUMP and DOGE are just two examples of cultural lightning rods, created by passionate stories. Be warned: sometimes these investments that spring from stories can pivot swiftly if the story takes an unusual turn.
What’s next?
Trump vs. Musk: a billion-dollar brawl for the ages. Will the tech-fueled rivalry resurface into a full-blown inferno, or will it quietly die out, much like an unfortunate tweet? Hold on; the chaos is about to get ugly!
The Trump Token would be the political companion on Crypto Rails. Meanwhile, his tweets have fans of Dogecoin on the ropes. These tweets can convince the market, after all crazy things have happened.
Technical charts? Bah! Now, the crypto landscape is being shaken by geopolitical tremors; traders have taken to riding these fault lines for profit even more than they do the headlines.
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