Meme Coins Rebound 8% Despite Stock Market Decline, TRUMP Token Lags 25%

Major meme coins, including Dogecoin, Shiba Inu (SHIB), and Pepe (PEPE), have experienced a notable rebound in value. This surge comes despite the ongoing decline in the traditional stock market, which has been influenced by President Donald Trump's trade policies. The Official Trump (TRUMP) token, however, has not seen the same level of gains as its competitors. The TRUMP token, which is associated with the former U.S. President, has posted comparatively middling gains. This disparity in performance highlights the varying levels of investor interest and market dynamics within the meme coin sector.

The TRUMP token's underperformance could be attributed to several factors, including market sentiment, investor confidence, and the overall volatility of the cryptocurrency market. The rebound of Dogecoin, SHIB, and PEPE suggests that these meme coins continue to attract significant attention and investment, despite the broader economic uncertainties. The performance of these meme coins underscores the speculative nature of the cryptocurrency market, where sudden shifts in value can occur based on a variety of factors, including social media trends, celebrity endorsements, and market speculation.

The middling gains of the TRUMP token, on the other hand, indicate that it may not have the same level of market appeal or investor confidence as its competitors. This could be due to a lack of widespread adoption, limited utility, or other market-specific factors. The performance of these meme coins also highlights the importance of market sentiment and investor psychology in the cryptocurrency market. The rebound of Dogecoin, SHIB, and PEPE suggests that investors are optimistic about the future prospects of these meme coins, despite the broader economic uncertainties.

The TRUMP token, launched just days before the President’s inauguration, initially sent the market into euphoria as traders believed a new era for crypto was upon us. However, when the first lady launched her own token, Melania Meme (MELANIA), the TRUMP token crashed 32% over six hours. Both tokens have mostly been in the red since then. The TRUMP token has now sagged 85% from its all-time high to a $2.09 billion market cap. At its peak, TRUMP was at $15.16 billion, making it the second largest meme coin by market cap.

As of February 11, 9.6% of betters on Myriad Markets believed that TRUMP will end Q1 as the top meme coin by market cap. However, as of today, the share of TRUMP believers has shrunk to just 2.8%, with 68% of betters thinking it stays in fourth place and 15% thinking it falls out of the top 10 entirely. Out of the top 10 meme coins by market cap, only Brett (BRETT) has performed worse than TRUMP over the past seven days, falling 25%.

The poor performance of the President’s official meme coin is likely a symptom of Trump falling out of favor in the eyes of the public. According to pollster, 38% of adults believe that Donald Trump is doing a “much worse” job so far in his second term than they expected. Equally, Trump’s disapproval rating has started to climb from 45.8% the week after inauguration to 48.9% last week. In doing this, 51% of registered voters now view the President unfavorably.

Trump’s second term has already been filled with drama and controversy, including a public argument with President Volodymyr Zelensky of Ukraine. But most important, at least for crypto investors, has been his trade war with the U.S.’s largest trading partners. Most recently, Trump’s 25% tariff on steel and aluminium came into effect. That’s caused the European Union to announce it will retaliate with “countermeasures.”

Despite the S&P 500’s continued decline of 0.76% on the day, the overall meme coin market has bounced 8%. This highlights the resilience of the meme coin sector, which often experiences sudden shifts in value based on a variety of factors, including social media trends, celebrity endorsements, and market speculation. The performance of these meme coins underscores the speculative nature of the cryptocurrency market, where sudden shifts in value can occur based on a variety of factors, including social media trends, celebrity endorsements, and market speculation.