TRUMP Memecoin Falls; Few Profit, Many Lose

The TRUMP meme coin has experienced significant volatility, rising after endorsements from Donald Trump but later dropping by over 30% from its April high of $16.44 to around $11.08. While Trump has denied profiting from the token, blockchain data reveals that 58 wallets earned over $10 million each, whereas more than 764,000 wallets have lost money, typically with smaller holdings. The recent decline was driven by short-selling, but capital inflow and investor optimism remain strong, according to the Chaikin Money Flow indicator. Interest intensified after an exclusive event for top holders was announced, though trading in the coin is still considered highly speculative and risky. Analysts and platforms caution investors about the lack of direct evidence connecting Trump to the coin's profits and warn of meme coin market volatility. The situation underscores both the risks and potential rewards of meme coin speculation and the powerful effect of celebrity endorsements in cryptocurrency markets.