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According to Decrypt, President Trump expressed his lack of understanding of his own meme currency, TRUMP, leading to sharp market fluctuations. At a meeting with senior tech officials, Trump said, "I heard it's very successful, but I haven't been following it specifically." After these statements, the value of TRUMP dropped from its 24-hour high of $48.18 to $40.29, a 16% decrease, but later recovered to exceed $43.37. Currently, the market value of TRUMP is approximately $8.7 billion, with an estimated reduced total value of about $43.6 billion. The alternative currency was previously heavily affected by the First Lady Melania Trump's competitive meme currency, MELANIA. On the day of MELANIA's launch, the price of TRUMP dropped by 50%, while MELANIA surged by 12000%. Additionally, according to Bubblemaps data, the supplies of TRUMP and MELANIA are concentrated in the hands of the source. An anonymous trader managed to turn a $1 million investment into profits exceeding $116 million through precise operations. Analysts warned that the meme currency of the Trump couple may increase tensions in Congress regarding cryptocurrencies and affect cryptocurrency regulation legislation.
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