764,000 lost money on Trump meme coins, while 58 profited

(Salon) Days before he was inaugurated for a second term, President Trump launched a meme coin brandishing the words “fight, fight, fight." But most of those who invested in it might feel like giving up.

Of the 2 million accounts that have purchased the $TRUMP coin, 764,000 have lost money on it, according to data that blockchain analysis firm Chainalysis shared with CNBC. Most invested in smaller amounts of the token, the media outlet reported.

Fifty-eight accounts — known as crypto "wallets" — made more than $10 million apiece, totaling roughly $1.1 billion in profits, per CNBC.

Meme coins, based on internet jokes or fast-moving cultural trends, are a highly volatile form of cryptocurrency. Trump's token gained billions of dollars in value overnight — at least on paper — after he announced it. The value fell after Melania Trump launched her own meme coin a few days later. ...............(more)

https://www.salon.com/2025/05/07/764000-have-lost-money-on-meme-coins-while-only-58-profited/?in_brief=true