Why does Trump Coin fall
The decline of Trump Coin is mainly caused by the following factors:
- Market sentiment and capital flow:
The value of Trump Coin mainly depends on the personal influence of the issuer and short-term market sentiment, lacking substantial value support. Once market sentiment changes and investors' confidence in it decreases, prices will quickly fall back.
- The Impact of Melania Coin:
The launch of the "Melania Coin" by Trump's wife Melania has also had a huge impact on the price of the "Trump Coin". After the launch of Melania Coin, there was a diversion of market funds, and a large number of investors turned their attention to the newly launched "Melania Coin", resulting in a decrease in demand for "Trump Coin" and a 60% drop in price within 30 minutes.
- Supply Structure and Market Manipulation：
80% of the supply of "Trump Coin" is held by an entity called "Fight Fight Fight" jointly owned by CIC Digital, a subsidiary of Trump, and CIC. This highly centralized supply structure allows issuers to easily influence market prices through large-scale buying and selling. As early investors began to concentrate on profit taking after obtaining high returns, selling their tokens in batches, the supply of "Trump coins" in the market increased significantly, further exacerbating the price decline.
- Regulatory uncertainty：
The regulatory uncertainty in the cryptocurrency market has also had a negative impact on the price of 'Trump Coin'. Although there is still high uncertainty in global cryptocurrency regulation, regulatory agencies are paying increasing attention to the cryptocurrency market. Once stricter regulatory policies are introduced, it will have a huge impact on the cryptocurrency market. Investors' concerns about potential regulatory intervention have also led to a decrease in their confidence in "Trump Coin", causing them to sell their tokens and accelerate the price decline.
In summary, the decline of Trump Coin is the result of multiple factors, including changes in market sentiment, the launch of new tokens, the impact of supply structure, and uncertainty in regulatory environment. These factors collectively led to a sharp drop in the price of 'Trump Coin'.
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