Donald Trump’s victory in the 2024 U.S. elections has generated significant activity in the crypto market. Notably, major cryptocurrencies like Bitcoin 
$98,290 and Ethereum 
$3,453 have experienced rapid increases. In the last 24 hours, the total market value has reached $2.52 trillion, with trading volumes soaring to $174 billion, capturing the attention of traders. However, Trump-themed memecoins failed to replicate this upward trend and instead faced substantial declines.
Trump Memecoins Lose 50% Value
Following Trump’s win, the most pronounced effect was seen in Bitcoin. Bitcoin surged to an all-time high of $76,460, delighting its holders. Similar rises were observed in other popular altcoins, while Trump memecoins experienced downturns. Despite the overall market surge, investors remain concerned about the future of these Trump-themed tokens.
Intense Selling Pressure on Trump Tokens
Tokens like MAGA, TRUMP, DMAGA, and STRUMP have faced sharp losses post-election victory. The TRUMP token dropped from a post-election peak of $4.60 to $2.22. The DMAGA token experienced an even steeper decline, plummeting from $0.020 to $0.0054. These sudden drops have left investors disappointed.
Market Dynamics Shift Towards Major Cryptocurrencies
According to Arkham Intelligence, Trump possesses approximately $1.33 million in TRUMP tokens. While crypto analysts predict this could positively influence Trump memecoins, the market’s shift towards major cryptocurrencies has set the stage for their decline. Investors are focusing on safer options like Bitcoin and Ethereum, favoring long-term investment opportunities.
Future of Trump Memecoins Remains Uncertain
The migration of investor interest towards major cryptocurrencies has intensified the selling pressure on Trump memecoins, causing these tokens to lose value. Specifically, the TRUMP token fell by 27.3%. This shift towards larger cryptocurrencies implies that Trump memecoins may face volatility. However, if selling pressure diminishes, these tokens have the potential for a rebound.
As fluctuations continue in the crypto market, the future of Trump memecoins remains ambiguous. Changes in market dynamics and investor trends will likely play a decisive role in the long-term performance of these tokens. Investors shifting focus to major cryptocurrencies has led to the temporary sidelining of Trump memecoins.
