Legacy Trump Meme Coin Maga Crumbles as New Rival Takes Center Stage – Markets and Prices Bitcoin News
Before Donald Trump introduced the “Official Trump” (TRUMP) meme coin, another cryptocurrency bearing the same ticker symbol, TRUMP—albeit lacking the official designation—experienced a significant decline in value following the debut of its more legitimate counterpart.
Maga Meme Coin Plunges Following Launch of Official TRUMP Token
The legacy meme coin referred to as “maga” (TRUMP) has faced considerable adversity following the debut of the official meme token on Friday. At precisely 7 p.m. ET on the day of the launch, maga boasted a market capitalization of approximately $158 million.
However, by 5 a.m. the following morning, its valuation had collapsed to a low of $64 million. While it has since staged a modest recovery, climbing back to the $124 million range, the coin remains 28.1% lower over the past 24 hours.
In stark contrast, the officially endorsed token, backed by the 47th U.S. President Donald Trump, has surged 521.8% against the U.S. dollar within the same timeframe. At the time of writing, the older maga token holds a market capitalization of $106 million, while the official TRUMP coin has amassed a commanding $5.3 billion in market capitalization based on its circulating supply.
The official token’s fully diluted valuation is $26.8 billion, whereas maga, already fully diluted, lags significantly behind. Interestingly, Trump received a gifted airdrop transfer of 579,290 units of the maga coin, now valued at approximately $1.3 million. However, his largest cryptocurrency holding by value is the meme coin TROG, worth $5.15 million.
Beyond this, he also possesses a combined total of roughly 3.28 ETH and WETH. Notably, the official TRUMP coin has risen to the pinnacle of the politifi coin rankings, surpassing constitution dao (PEOPLE) to claim the number one position. Despite this, most all of the top politifi coins experienced losses today, with one exception—jeo boden (BODEN), a token whimsically named after the 46th U.S. President, which defied the trend by surging 123.8% in value.
