Bitcoin and altcoins have taken a big hit today. While BTC price dropped to $57,000, altcoins suffered double-digit losses in 24 hours.
Altcoins down double digits. Source: Coingecko
Memecoins also suffered heavily in this decline. First of all, the PoliFi-themed memecoin suffered heavy losses.
Topping the list are MAGA (TRUMP) with its theme of presidential candidate Donald Trump and Jeo Boden (BODEN) with its theme of Joe Biden.
While TRUMP has fallen 46.6% in the past 7 days, BODEN has lost 73.2% after incumbent President Joe Biden’s disappointing debate performance with Republican candidate Donald Trump.
PolitiFi memecoins plunge. Source: Coingecko
Along with the sharp decline in the cryptocurrency market, the former US President’s memecoin assets also fell sharply.
Arkham Intelligence data shows Trump’s crypto holdings have lost 75% since June to $7.85 million.
The memecoin in Trump’s wallet has lost a significant amount of value since June. With this drop, the total value of the former president’s memecoin has dropped from $31 million to $7.85 million.
Trump’s wallet currently holds 579,290 TRUMP worth $2.88 million; 489.18 ETH worth $1.53 million; TROG worth $1.46 million, and 377,131 WETH worth $1.18 million.
Source: Arkham Intelligence
It should be noted, however, that none of the memecoins were actively purchased by Trump. These assets include tokens sent to Trump by various cryptocurrency developers to draw attention to their projects.
Itadori
Bitcoin Magazine
