Trump memecoin investors lost $3.8 billion, analysis findsTrump memecoin investors lost $3.8 billion, analysis finds
Nearly 1 million people have lost a total of $3.8 billion after buying President Donald Trump’s $TRUMP memecoin, according to cryptocurrency analytics firm Nansen.
The New York Times reports that Nansen’s analysis is based on transactions that are publicly visible on the blockchain, showing that 988,905 accounts had lost money on the memecoin as of the end of June. That represents around two out of three $TRUMP buyers.
On Sunday, $TRUMP was trading at $1.69, down nearly 98% from its high of $75.35.
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There's a reason we call them "profit and loss signals". Let's hope those gullible rubes learned their lesson.
Grifts and scams at the highest levels of government