$TRUMP Meme Coin Loses 98 Percent of Value, Investors Shrug Off Losses

Investors in Trump's meme coin, $TRUMP, have lost around 98 percent of their money since its peak. The price dropped from $75 to just over $1.57 today.

In a recent investigation by the Wall Street Journal, it was found that some investors who lost millions of dollars seemed to shrug off the losses because they had used Trump's meme coin as a way to gain access to exclusive events hosted by the president and his sons.

One such investor is China-born crypto billionaire Justin Sun, who invested $18.5 million in Trump's meme coin to secure a seat next to the president at an invitation-only dinner. However, he has since sued World Liberty Financial, a decentralized finance platform founded by Trump and longtime friend Steve Witkoff, for breach of contract and fraud.

The value of World Liberty Financial is down 81 percent since last September, with most of the drop coming before the Bitcoin selloff. The president reported $1.2 billion in income from World Liberty and his meme coin.