MAGA Coin ($TRUMP) Plunges 99% After Election-Driven Surge
MAGA Coin (TRUMP), a political meme token tied to Donald Trump's 'Make America Great Again' slogan, surged to a peak of $17.82 in early June 2024 during the U.S. presidential campaign, reaching a market cap over $800 million. The ERC-20 token, with no official affiliation to Trump's campaigns, is a 'PolitiFi' asset whose value derived from election narrative virality rather than utility. On-chain data shows extreme concentration: top 10 wallets hold 73.9% of supply, with a Gini coefficient of 0.97. Currently trading around $0.04, down over 99% from its high, with liquidity at $697,000 and 24-hour volume of $198,000. The token now moves sideways in a narrow range, illustrating the pattern of narrative-driven meme coins collapsing after political interest fades.
Key facts
- MAGA Coin (TRUMP) peaked at $17.82 in early June 2024.
- Market capitalization exceeded $800 million at peak.
- Token is an ERC-20 meme coin with no official affiliation to Trump campaigns.
- Top 10 wallets hold approximately 73.9% of total supply.
- Gini coefficient of 0.97 reflects extreme distribution skew.
- Current price around $0.04, a decline of over 99% from all-time high.
- Liquidity is approximately $697,000; 24-hour volume is $198,000.
- Token is an example of the 'PolitiFi' category, driven by political narratives.
Entities
Institutions
- NFT Plazas
- CoinMarketCap
- TradingView
- Etherscan