Several hundred of the top Trump meme coin holders converged on Mar-a-Lago over the weekend, and all they got were Trump watches and a rambling speech.

Then the price of the coin dropped to its lowest level ever.

Donald Trump launched the $TRUMP meme coin (and the associated $MELANIA meme coin) just three days before his second inauguration. The price of the coin immediately rocketed past $74, giving it a total market capitalization of around $15 billion —a rather absurd figure for a brand new digital asset that can’t actually be used for anything. The coin has no inherent value. It has no transactional use. It essentially functions as a digital endorsement of Trump—so perhaps fittingly, it’s price has since fallen even faster than the president’s approval ratings.

It’s market cap has now collapsed to just $583 million—a decline of about 96 percent from its peak. The price of a single coin has fallen nearly to its all-time low, languishing around $2.50 Tuesday.

Nearly a year ago, $TRUMP’s website offered the top 220 coin holders an exclusive soiree at his Virginia golf course and the top 25 holders a VIP tour of the White House. (The........

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