An Ethereum (CRYPTO: ETH) primarily based meme-coin referred to as “Let’s Go Brandon” shed one other 19% from its worth after being endorsed by former U.S. President Donald Trump.
What Occurred: On March 11, The Day by day Beast reported that Trump had been gifted 500 billion Lets Go Brandon (LGB) tokens by James Koutoulas — an avid supporter of each Trump and the LBG crypto challenge.
“Sounds good to me. I don’t know precisely what it means, however it sounds good to me,” mentioned Trump, in an interview with David J. Harris.
The worth of LGB has now fallen to $0.0000003528, that means that Trump’s cash have successfully misplaced greater than $11,000 in worth since he acquired them.
In response to Harris, the primary intention behind the LGB cryptocurrency challenge is to “help firemen, police, nurses, medical doctors” who’ve been laid off due to the vaccine mandate.
“I’ll inform you what, these teams are the fitting teams to help… They’re nice. They’re nice patriots, nice folks,” said Trump.
Final month, The Day by day Beast reported that LGB tokens had seen a 99.5% decline in worth over a span of 30 days. One investor reportedly noticed his $15,000 funding flip into only a “couple [of] hundred {dollars}.”
What Else: Of late, even the extra mainstream meme-coins, like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), haven’t seen a lot optimistic worth motion.
DOGE has a market cap of $15 billion and is at the moment buying and selling at below $0.12. The meme-coin didn’t submit any vital positive factors even after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk tweeted that he had not offered any of his holdings and remained bullish on crypto regardless of turning bearish on the U.S. greenback.
Worth Motion: Bitcoin (CRYPTO: BTC) was buying and selling at $39,000 down 0.13% within the final 24 hours. Ethereum was buying and selling at $2,589, up 0.39% and Dogecoin was buying and selling at $0.11, down 0.90% over the identical interval.