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President Donald Trump, before taking office, issued a new meme coin called OfficialTrump (TRUMP), which reportedly brought significant profits to President Trump and his partners. It is reported that the transaction fees alone for the cryptocurrency are nearing $100 million (145.2 billion KRW).

On the 9th (local time), the New York Times, citing data from Chainalysis, reported that President Trump, his family, and partners earned about $100 million in transaction fees from OfficialTrump.

OfficialTrump is a meme coin directly issued by President Trump on the 17th of last month. It seems to have absorbed all the buzz surrounding President Trump, skyrocketing to $77, about 43,000% up from its initial price ($0.18) just two days after issuance. OfficialTrump's market capitalization surpassed $10 billion in about three days after issuance, overtaking Shiba Inu to become the second-largest meme coin by market cap.

During this period, as OfficialTrump recorded a sharp rise, early investors in the meme coin reportedly made substantial profits. According to Chainalysis data, there are currently about 700,000 addresses that have profited from OfficialTrump. One investor purchased about 6 million tokens at $0.18, recording a profit of $109 million (about 160 billion KRW).

However, not all investors were able to reap profits. This is because OfficialTrump has been on a continuous decline since the first week of trading. As of 2:21 PM on the 10th (Korean time), OfficialTrump is trading at $15.61 on CoinMarketCap, down 11.27% from the previous day. It is down about 80% from its peak.

As a result, many investors have suffered losses. As of this day, a total of 813,294 wallet addresses are recording losses due to OfficialTrump.

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