The price of $Trump has dropped to around $17, resulting in cumulative losses of $2 billion for several investors.

Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

Crypto offers an extremely lucrative way of making money. It's also an easy way to get duped. Case in point: the supporters of President Donald Trump, who bought his meme coin, $Trump, amid a wave of enthusiasm preceding his inauguration.

Trump’s $TRUMP meme coin launch has led to 700+ fake copycat tokens, insider trading suspicions, and ethical concerns.

Now that there's both Official Trump (with the ticker TRUMP) and Official Melania Meme (with the ticker MELANIA) meme coins, both of which were launched recently on the Solana blockchain, people might be wondering which of the pair is the better bet.

Trump’s meme coin, $TRUMP, and Melania Trump’s coin, $MELANIA, plunged as the news agitated markets worldwide, according to Axios. $TRUMP — unveiled days before his inauguration — saw its value drop by 18% just over the last day. It's now down to $17.50 per token, compared to a peak of $72.62 the day before his swearing-in.

Donald Trump’s meme coin, TRUMP, has lost 75% of its value despite the former president’s enthusiastic promotion. According to CoinDesk,

"That coin is a joke," one Trump supporter who said he lost money on the president's memecoin wrote on social media