Grifters are Going to Grift! The Collapse of OFFICIAL TRUMP Crypto Currency
We came across a video on social media purporting to show a MAGA supporter directing his ire at President Trump over losing money betting on cryptocurrency
Earlier this week, we reported on our five-year experiment in cryptocurrency gambling, specifically the DOGE meme coin. Since Tuesday, the price of DOGE has continued to slide.
Yesterday, we came across a video on social media purporting to show a MAGA supporter directing his ire at President Trump over losing money betting on cryptocurrency. Now that the authenticity of the video below cannot be verified, it nonetheless motivated us to look into the Trump family's cryptocurrency, officially known as OFFICIAL TRUMP.
The pre-issue price was around $10 before Trump took his second oath on January 20, 2025, and trading opened for retail investors on January 17 at over $45. Since then, as you can see in the first video posted below, the price, as the Jeff Beck Band sang, has been "Going Down!"
The slide has affected the broader cryptocurrency market. Nonetheless, the sting has been hard for MAGA supporters who, if they invested $100,000 in the coin on January 17, 2025, would see it worth about $7,400 as of this evening, representing a 93.2 percent loss.
That's a near-total wipeout in crypto terms - brutal, even by meme-coin standards.
The chart video shows, in chronological order, the price decline using frames from live, 1-day, 1-week, 1-month, 3-month, 1-year, and since-inception periods. The information was captured from RobinHood.
As for the MAGA video, it could be legitimate or just a parody. Given there are MAGA people who dumped money in OFFICIAL TRUMP, if this is a parody, it is probably what they are feeling, but are too afraid to say out loud.
Grifters are Going to Grift!
