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.
"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.)"
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]