Trump’s Meme Coin Survives Major Supply Challenge Despite Market Fears

NEW YORK (AP) — The $TRUMP meme coin, a digital asset tied to former President Donald Trump, faced significant challenges on April 18 but managed to stay afloat amid market fears.

Since its launch earlier this year, the $TRUMP coin has generated substantial profits for its creators, with reports indicating they have earned around $100 million in fees. In contrast, early investors witnessed a drastic decline, with the coin’s value dropping over 90% from its peak.

The crisis began when an additional 40 million tokens were set to enter circulation, representing about 20% of the total supply. Analysts warned that selling off this new supply could plunge the coin’s value even further, with an estimated market value of $300 million at the time of the announcement. Each day following, another $4 million worth of tokens is set to be released.

Onlookers anticipated a collapse, but surprisingly, the coin’s value showed a modest increase over the weekend. Observers indicated that two businesses owned by Trump, CIC Digital LLC and Fight Fight Fight LLC, hold a significant portion of the impending new supply. If they sell, it would not only jeopardize the coin’s price but also destroy their potential profits.

Despite the instability, the $TRUMP coin remains a notable player in the meme currency market, now valued around $8, ranking as the fourth-largest meme coin.

In a related development, the Trump crypto team is reportedly looking to launch a real estate video game, merging Trump’s interests in cryptocurrency and board games.