On January 18, US President-elect Trump posted on his social account, announcing the launch of his personal Meme coin $TRUMP
。
The tweet said: "Join my 'Trump Community'. Get your $TRUMP
Tokens. Have fun! "
At first, the market thought his account was hacked, but later Trump's personal account X also posted the same content.
Afterwards, the Presidential Coin began to soar wildly, followed by a collective collapse of altcoins in the cryptocurrency circle. It can be said that the Presidential Coin sucked the blood of altcoins in the entire cryptocurrency circle and formed a strange rise. As of the time of posting, the Presidential Coin still had a nearly three-fold increase after being listed on the Binance exchange.
Until the early morning of January 20, the First Lady issued currency again, and the increase was still extremely exaggerated.
Subsequently, the Presidential Coin began to plummet. The on-chain price of a currency with a market value of tens of billions showed a fluctuation of sharp rise and fall. As of the time of posting, the Presidential Coin has fallen 50% from its highest point, and there is no sign of stopping the decline.
Summary: January 20 is the day when the president takes office. Maybe all the good news has been exhausted and bad news has come. Bitcoin has also started to pull back as expected. This is the first time since $BTC
This is the first major correction since the rebound on August 9. As of the time of posting, Bitcoin has corrected about 6%. This round of bull market is really a bull market for Bitcoin alone. Many altcoins have hit new lows in this correction. To be honest, I really have no confidence in altcoins. Following the decline but not the rise may be the pattern of this bull market. The primary market is the explosion point of this bull market. Brothers, have you become rich because of President Coin?
This series will be continuously updated, aiming to record important events in the cryptocurrency world and take you through the bull and bear markets.