Celebrity Endorsed Meme Coins Plunge in Value, Retail Investors Suffer Significant Losses

The cryptocurrency market has been plagued by a recent trend of celebrity-endorsed meme coins, which have led to significant losses for retail investors. In this case, Melania Meme ($MELANIA) and Official Trump ($TRUMP) tokens have dropped in value, with $MELANIA plummeting 98.8% and $TRUMP experiencing a 91.8% decline.

According to market data, the price of $MELANIA has hit $0.123, while $TRUMP is currently valued at $3.66. The insiders, however, have reportedly made notable profits from token sales and fees, collecting over $600 million via these means.

The disparity between retail losses and insider gains is stark, with retail investors experiencing losses at a 20-to-1 ratio compared to the earnings of insiders. As a result, cumulative retail losses have exceeded the $4.3 billion mark.