The whole market is rallying, but Trump’s own coin is tanking. I almost thought I was reading it backwards.
According to Cointelegraph, TRUMP plunged nearly 21% in a day, dropping to around $1.25 and hitting an all-time low. WLFI also fell more than 7%, to $0.047. On the same day, BTC rose 4% to get back above $80,000, and ETH gained nearly 7%. The whole market was partying while those two sat in the corner getting pummeled.
On one side are the people still defending it: “It’s a political coin. It falls when you lose an election, but it’ll come back eventually.” On the other are the people already laughing: “Democrats swept both chambers in the midterms, and the House is already working on new legislation to put rules around the president’s crypto activities. This coin’s entire lifeline is Trump’s brand. If the brand starts wobbling, how can the coin not wobble too?”
Here’s where I stand: That’s just how political coins work—when you win, it’s a matter of faith; when you lose, it’s a joke. I’m neither sympathetic nor mocking. People who hold it are betting on a person, not a coin. When that person loses, the coin doesn’t have anything resembling solid fundamentals to fall back on.
What about you? If you’re still holding TRUMP, do you think this is a buying-the-dip opportunity, or are you finally ready to admit this thing is just a political lottery ticket?
According to Cointelegraph, TRUMP plunged nearly 21% in a day, dropping to around $1.25 and hitting an all-time low. WLFI also fell more than 7%, to $0.047. On the same day, BTC rose 4% to get back above $80,000, and ETH gained nearly 7%. The whole market was partying while those two sat in the corner getting pummeled.
On one side are the people still defending it: “It’s a political coin. It falls when you lose an election, but it’ll come back eventually.” On the other are the people already laughing: “Democrats swept both chambers in the midterms, and the House is already working on new legislation to put rules around the president’s crypto activities. This coin’s entire lifeline is Trump’s brand. If the brand starts wobbling, how can the coin not wobble too?”
Here’s where I stand: That’s just how political coins work—when you win, it’s a matter of faith; when you lose, it’s a joke. I’m neither sympathetic nor mocking. People who hold it are betting on a person, not a coin. When that person loses, the coin doesn’t have anything resembling solid fundamentals to fall back on.
What about you? If you’re still holding TRUMP, do you think this is a buying-the-dip opportunity, or are you finally ready to admit this thing is just a political lottery ticket?
