President-elect Donald Trump launched an official TRUMP meme coin on Solana late Friday, attracting billions of dollars’ worth of trading volume as the coin vaulted into the top 40 cryptocurrencies by market cap. But other major meme coins appear to be falling in price as traders sell to ape into TRUMP instead.

Dogecoin, for example, rose to a more than one-month peak price of above $0.43 on Friday night before the TRUMP news began widely circulating. Quickly, it fell, dropping to a current price of $0.397 as likely sales drove down the price.

DOGE is down 8% from that late Friday peak, and 3% over the last 24 hours. But it’s still up 18% on the week thanks to sizable gains in recent days.

Other major meme coin charts look similar, with Shiba Inu (SHIB) and Pepe (PEPE) among those coins that have fallen since the TRUMP token gained steam on Friday. SHIB is now down 6% on the day, with Pepe down 5%.

Not every meme coin is faring as badly, however. A pair of prominent Solana-based meme coins, Bonk (BONK) and SPX6900 (SPX), have seen only modest dips since Friday night and remain substantially up over the pas

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Author: Andrew Hayward