"TOSHI Tops Meme Coin Surge, Trump's TRUMP Token Plunges"

Meme Coin Madness: TOSHI Leads as Base Memes Surge, Trump Drama Unfolds

The cryptocurrency market has witnessed a surge in meme coins, with TOSHI leading the pack. Meanwhile, the Trump Organization's foray into the meme coin space has sparked controversy and concern among hedge fund managers.

The Official Trump meme coin, TRUMP, reached an all-time high of $75.35 shortly after its launch in January 2025. However, its value has since plummeted by approximately 74%, trading at around $19.38 as of February 1, 2025. Despite the significant drop, the coin's market capitalization remains substantial, with a fully diluted valuation of around $2 billion.

SkyBridge Capital founder Anthony Scaramucci, a Trump ally-turned-critic, has accused the former president of engaging in a pump-and-dump scheme. Scaramucci took to X, a social media platform, to express his concerns about Trump's promotion of the TRUMP meme coin, stating that the "jig is up."

Trump's frequent promotion of various items, including non-fungible tokens (NFTs) and cryptocurrencies, on his personal Truth Social account has raised eyebrows on Wall Street. The Official Trump meme coin is just the latest money-making attempt by the Trump Organization, following the promotion of MAGA-branded bibles and sneakers.

Scaramucci, who was among the first hedge fund managers to delve into crypto in 2020, posed a question to his followers on X: "Could someone please explain to me on Crypto X how the President pumping his own meme coin is a good thing?"

Wall Street professionals are not the only ones scrutinizing the intersection of cryptocurrency and Trump's White House. A memo from New York-based hedge fund Elliott Management suggests that Trump's embrace of digital coins is fueling a speculative frenzy that could "wreak havoc." Ironically, Elliott's founder, Paul Singer, has donated millions to conservative candidates, including the "Make America Great Again" PAC.

Meanwhile, the TRUMP token has sparked heated discussions in the crypto community. Some see it as a bullish catalyst, while others warn of potential instability. The memecoin's price has