The Trump Meme coin started at $7 and within hours the coin rose to its all time high of $73. Then the token continued to decline and currently its price is around $12. Trump meme coin is a meme based cryptocurrency built on the solano blockchain. First announced by trump on his social media channels this meme coin is based on his slogan fight. A small amount of people bought this token during fomo but those who bought out of fomo bagged big losses today. After this t coin came there are many people considered it as a means of investment and that initially attracted investors. So now its falling price has dashed investors expectations.
The Trump coin is another demonstration of two very simple things we have been seeing for years in the cryptocurrency industry.
Those two things are the following:
Pump and dump: Sell FOMO and people will sell their house if necessary to buy the coin.
The inability of people to discern what they are going to do with their investment and whether it has a minimum percentage of guarantees of being beneficial.
After all, this isn't the first time we've seen a pump and dump (and unfortunately it won't be the last) causing thousands of people to lose a lot of money. So why don't people, before doing something they've never done (investing in cryptocurrencies), research how to do things?. The information is available to everyone, and it is not even necessary to have a technical or technological profile to understand that information.