Donald Trump’s victory in the 2024 US elections created great activity in the crypto market. Especially Bitcoin 
$75,017 and Ethereum 
$2,827 A rapid rise was observed in major cryptocurrencies such as. In the last 24 hours, the total value of the market reached 2.52 trillion dollars and the transaction volume reached 174 billion dollars, increasing the interest of investors. However, Trump-themed memecoins have not gained the same momentum; On the contrary, these tokens experienced serious declines.
Trump Memecoins Lost 50% in Value
After Trump won the election, the biggest impact was seen on Bitcoin. Bitcoin delighted investors by reaching an all-time high of $76,460. While a similar rise was observed in other popular altcoins, Trump memecoins experienced a decline. Investors are worried about the future of Trump-themed tokens despite the market’s overall rise.
Intense Selling Pressure in Trump Tokens
Trump memecoins such as MAGA, TRUMP, DMAGA, and STRUMP faced a sharp decline in value following his election victory. The TRUMP token fell from its post-election peak of $4.6 to $2.22. In the DMAGA token, the decline was more dramatic; Its value decreased from $0.020 to $0.0054. These sudden declines disappointed investors.
Market Dynamics and Trend towards Major Cryptocurrencies
According to Arkham Intelligence, Trump has approximately $1.33 million in TRUMP token assets. Although crypto analysts predicted that this asset could have a positive impact on Trump memecoins, the market’s orientation towards major cryptocurrencies paved the way for the decline of these tokens. Investors prefer long-term investment opportunities by focusing on cryptocurrencies such as Bitcoin and Ethereum, which they see as safer.
Future of Trump Memecoins Uncertain
The shift in investor interest to major cryptocurrencies increased the selling pressure on Trump memecoins, causing these tokens to lose value. Notably, the TRUMP token fell 27.3% due to selling pressure. The market’s focus on major cryptocurrencies means Trump memecoins could face volatility. However, these tokens have the potential to rise again if the selling pressure decreases.
As volatility in the crypto market continues, the future of Trump memecoins remains uncertain. Changes in market dynamics and investor trends are likely to play a decisive role in the long-term performance of these tokens. Investors are turning to major cryptocurrencies, causing Trump memecoins to take a backseat in the short term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
