"On Jan. 19, 2025, someone paid $75.35 to buy a Trump meme coin. Today, assuming that investor held the cryptocurrency, the investment has lost 96% of its value. The crypto market has been more volatile than usual in recent weeks. Last week alone saw daily swings of as much as $10,000 in Bitcoin, the leading digital currency, pushing it down to nearly $60,000, a level not seen since 2024."
"Bitcoin has since recovered somewhat, though it is still hovering near $70,000, well below its $122,000 high last October. But as mainstream cryptocurrencies continue to give investors whiplash, meme coin holders have fared even worse. The Trump coin, in mid-morning trading Monday, stood at $3.39, according to CoinMarketCap. The Melania coin, which once traded as high as $13.73, is down roughly 99%, changing hands for about 12 cents."
"Shiba Inu now costs $0.000006060, meaning that buying 1,650 coins today would cost just under one cent-a 20% drop from its highs last October. Losses over the past week span the broader meme coin market: Pepe fell 13%. Bonk dropped 16%. Pudgy Penguins declined 20%. And pippin slid 35%. (No, we didn't make any of those names up, and no, it's not surprising if you haven't heard of several of them.)"
Cryptocurrency markets have shown heightened volatility, with Bitcoin experiencing daily swings up to $10,000 and briefly dropping to nearly $60,000 last week. Bitcoin recovered to around $70,000, well below its $122,000 high last October. Meme coins have declined more sharply, with a Trump-branded coin trading at $3.39 and the Melania coin down roughly 99% at about 12 cents. The Trump coin's market capitalization fell from a $14.5 billion peak to $1.78 billion today. Non-political meme tokens also fell: Dogecoin trades just over 9 cents, and several smaller meme coins posted double-digit weekly losses.
Read at Fast Company
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