Meme coins have come a long way from when they started. First conceived as a joke, now it’s valued at over $100 billion in market capitalization. Meme coins like $DOGE, $SHIB, and now $TRUMP coin have proven that meme coins can gain mainstream attention.

Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

Trump’s $TRUMP meme coin launch has led to 700+ fake copycat tokens, insider trading suspicions, and ethical concerns.

Trump’s meme coin, $TRUMP, and Melania Trump’s coin, $MELANIA, plunged as the news agitated markets worldwide, according to Axios. $TRUMP — unveiled days before his inauguration — saw its value drop by 18% just over the last day. It's now down to $17.50 per token, compared to a peak of $72.62 the day before his swearing-in.

More than 813,000 crypto wallets have lost a total of $2 billion after buying President Donald Trump’s memecoin, according to an assessment by Chainanalysis commissioned by the New York Times. Meanwhile,

The price of $Trump has dropped to around $17, resulting in cumulative losses of $2 billion for several investors.