On January 18, US President Trump launched his personal official meme coin TRUMP on social platforms, which instantly set off the crypto market. This is the first time that a senior national leader has issued a personal token. Five hours after the launch, the market value of TRUMP exceeded 20 billion US dollars, and the highest market value was nearly 80 billion US dollars. The presidents issuance of coins and the nearly 24-hour pull-up behavior also brought enough heat to Trump Coin.
Good and bad are interdependent. Before native crypto users can enjoy the new cash flow brought by the popularity of the circle, negative impacts have already followed. Under Trumps leadership, more heads of state and celebrities from all walks of life have started an unrestrained wave of coin issuance. And TRUMP itself has exacerbated the liquidity crisis in the currency circle, which is already stretched to its limits. Where there is a surge, there will be a sharp drop, and the carnival bubble bursts faster than we thought. One month after the launch of the token, the price of TRUMP has fallen from its highest point of $80 to below $13 as of press time, a drop of more than 80% from the high point, and the same-name meme coin MELANIA issued by Mrs. Trump, Argentina Presidential Coin LIBRA, etc., have even fallen by more than 90%.
In addition to celebrities issuing tokens directly, the Scythes have also found a new way: cooperating with celebrities, announcing token information, and then pretending that Twitter was hacked to distance themselves from the matter. Well-known artist Kanye once said that someone offered him $2 million to release the RUG Meme coin. From January this year to date, according to incomplete statistics from the editor of BlockBeats, no less than 15 celebrities from all walks of life have launched tokens in various ways. Except for TRUMP and STONKS, the rest have fallen by more than 90%.
Celebrity real-name coin issuance:
TRUMP (down 83.9% from its high point)
Highest price: 82 Price at press time: 13.23
On January 18 this year, the official social account of US President Trump announced the launch of Trumps eponymous meme coin TRUMP. Subsequently, Trumps personal account and Trumps second son Eric Trump tweeted to confirm TRUMPs legitimacy. TRUMP was listed on OKX, Coinbase, Binance and other leading trading platforms just 24 hours after its launch, setting a record for the shortest time for a token to be listed on spot. At the same time, there was almost no callback after its release. The unit price exceeded US$7 billion in 48 hours, the circulating market value exceeded US$14 billion, and the total market value once exceeded US$70 billion.
However, the issuance of TRUMP blurred the boundaries between politics and business. According to its official website, two subsidiaries of the Trump Group control 80% of the total tokens, with an initial circulation of only 200 million, and the remaining 800 million will be gradually unlocked in the next three years. This highly centralized distribution model has been criticized by insiders and politicians as legal money printing, directly bringing more than $25 billion in book wealth appreciation to the Trump family.
However, a meme coin without value is ultimately difficult to support, even if the coin is tied to the president of the United States. After reaching its peak, TRUMP slowly fell, and after a brief sideways trend for a few days, it harvested all the way. It is currently in a slump. As of press time, it has fallen from a high of $80 to $13, a drop of more than 80%. This result is both a falsification of the markets favorable policy expectations and an inevitable result of excessive liquidity withdrawal. Related reading: Trumps coin issuance made the Chinese earn hundreds of millions, and the American crypto community split as a result
MELANIA (93.3% down from its high point)
Highest price: 13.6 Price at press time: 0.92
On January 20, after seeing the huge profits of TRUMP, the coin issuing group targeted Trumps wife Melania and issued the meme coin MELANIA in her name. Four hours after the launch, the FDV exceeded 10 billion US dollars, and the transaction volume reached 658 million US dollars. However, the token economic model has been criticized by the community: 35% team share, 20% treasury, 20% community, 15% public offering, and 10% liquidity. On the next day, MELANIA fell below 4 US dollars, with a 24-hour drop of nearly 70%. This incident not only accelerated the collapse of the TRUMP coin, but also revealed the capital logic of family-style harvesting.
In addition, the MELANIA team tokens have been unlocked since February 19, and will be fully unlocked within the 13th month. Related reading: Two days before taking office, the Trumps took $65 billion from the cryptocurrency circle
VINE (92.2% down from its high point)
Highest price: 0.49 Price at press time: 0.037
On January 23, Rus Yusupov, one of the founders of the short video platform Vine, issued the meme coin of the same name, VINE. Vine is a short video platform that X (formerly Twitter) announced to be closed in 2016. Similar to TikTok, it allows users to create short videos of up to 10 seconds and share them on social networks. Since Musk acquired Twitter in 2022, he has repeatedly expressed the idea of restarting Vine on social media.
Yusupov said, I launched this Meme coin to commemorate the beauty of unity and creation. I will not sell my Dev token shares, and all profits will be donated to X. Perhaps influenced by the expectation that Musk will interact with it, VINEs market value once exceeded $400 million. Related reading: The founder issued a coin to quickly pass $200 million, and Musks short video Vine made a comeback
Ainti (94.23% decline from its high point)
Highest price: 1.06 Price at press time: 0.065
On January 23, the X account of the late antivirus software founder John McAfee released the AI Meme coin AIntivirus (Ainti) token contract. It is reported that the tweet was forwarded by McAfees widow Janice Elizabeth McAfee, who said that this was a move to commemorate her husbands genius image and continue his legacy. The new project will integrate McAfees core concepts such as freedom, privacy and technology, and combine cryptocurrency with AI technology. (Note: On June 23, 2021, John McAfee died in a Spanish prison.)
CAR (98.33% decline from the high point)
Highest price: 0.88 Price at press time: 0.015
On February 10, the President of the Central African Republic launched the meme coin CAR. Three hours after its launch, CARs market value exceeded $600 million and its transaction volume exceeded $300 million. According to the official website of CAR tokens, the total number of CARs is 1 billion, but the public distribution accounts for only 9.3%.
Tokens were launched after the social account was “stolen”:
CUBA (99.36% decline from its high point)
Highest price: 0.02 Price at press time: 0.0001
On January 20, the official X account of the Cuban Ministry of Foreign Affairs promoted the meme token CUBA after being hacked. The original post was deleted on the same day, and CUBA plummeted 99.36% within 24 hours.
FINN (99% drop from high point)
Highest price: 0.009 Price at press time: 0.00001
On January 21, the Farcaster account of Dan Finlay, co-founder of MetaMask, was stolen to promote the meme coin FINN. The meme coin was already rugged on the same day, and the initial funds of the creators address may have come from a mixing platform, making a profit of more than 1,000 SOL.
STONKS (53.3% down from its high point)
Highest price: 0.078 Price at press time: 0.036
On January 23, the official Nasdaq X account was hacked and posted a tweet about the meme coin STONKS. The tweet was quickly deleted, causing the market value of STONKS to be halved. However, STONKS gradually recovered under the takeover of the community and established a strong consensus, which is also an important reason why its price is stronger than other tokens.
BRAIZIL (99.7% decline from its high point)
Highest price: 0.021 Price at press time: 0.0005
On January 24, the account of former Brazilian President X was hacked and he released the meme coin BRAIZIL, which represents Brazil. The original post was deleted in a short time, and the token price plummeted.
TIME (97.8% decline from the high point)
Highest price: 0.13 Price at press time: 0.0003
On January 31, Time magazine’s official Twitter account was hacked and posted information about the TIME token. After the tweet was deleted, the token price plummeted rapidly.
DAILY (98% drop from high point to date)
Highest price: 0.003 Price at press time: 0.00006
On February 2, the British Daily Mail published an official article to promote the meme coin DAILY. At the peak of its market value, the Daily Mail deleted the relevant tweet, causing the token price to plummet.
MALAYSIA (99.56% decline from its high point)
Highest price: 0.003 Price at press time: 0.00001
On February 5, the X account of former Malaysian Prime Minister Dr Mahathir Mohamad was stolen, and he continuously posted multiple tweets to promote the meme token MALAYSIA. According to SlowMist monitoring, the creator of the CA is related to a historical evil gang.
Celebrities participate in token promotion:
JAILSTOOL (92.76% drop from its high point)
Highest price: 0.21 Price at press time: 0.015
On February 8, Dave Portnoy, the founder of Barstool Sports in the United States, participated in the promotion of the meme token JAILSTOOL. Barstool Sports was originally just a small sports newspaper distributed by Dave in the subway, and later developed into a multi-million dollar business empire. Dave is also an Internet celebrity in the United States, and has attracted much attention for his sharp pizza reviews and crazy sports betting.
He started to get involved in cryptocurrency in recent years, often casually buying some tokens on Solana and sharing his operations on Twitter. On February 8, Dave bought $200 worth of JAILSTOOL. People didnt care at first, but he thought the token was very interesting and told investors that he would not sell it and continued to increase his position. The price of JAILSTOOL skyrocketed due to his tweet. In just 3 hours, the market value soared to 150 million US dollars. Related reading: $JAILSTOOL Quick Review: A celebrity tweet soared to a market value of 150 million US dollars in 3 hours
LIBRA (97.3% decline from high point)
Highest price: 4.53 Price at press time: 0.12
On February 15, the President of Argentina issued a message to promote the meme coin LIBRA, and LIBRAs highest market value exceeded 4 billion US dollars. But after Milei deleted the tweet, LIBRAs market value plummeted, and the team behind it cashed out more than 100 million US dollars. More than 20 LIBRA traders lost more than 1 million US dollars, and the biggest loser lost more than 5 million US dollars. As of now, the insider mystery about the issuance of LIBRA has not been solved. Related reading: After the Argentine currency cut 100 million, what insider information did the community dig out in 36 hours
In addition, the famous American rapper Kanye announced last week that he would launch his official meme coin YEEZY, saying that YEEZY aims to create a real currency. But just yesterday, Kanye suddenly announced that he would temporarily withdraw from X, and the coin issuance plan may be stalled.
Summarize
Trumps crypto carnival ended with more than 370,000 peoples positions being liquidated and $1 billion being wiped out. Overall, although celebrity coin issuance once attracted a lot of market attention, its short-lived high popularity also exposed the fragility of the market. If you dont run fast enough, you will be harvested. When the celebrity halo fades, the market is left with not only the steep ups and downs on the K-line chart, but also the ultimate questioning of the decentralized ideal: If the crypto world becomes a puppet of power and traffic, has its promise to subvert tradition already become a vain narrative? The answer may be hidden in the silence before the next bubble rises.
