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The Official Trump (TRUMP) coin has taken another hit, dropping 17% overnight as more investors cash out and lose faith.
But while TRUMP struggles, a new Layer-2 project, Solaxy (SOLX), continues to draw recognition.
Solaxy has just passed the $19 million mark in its ICO – proving that investors are still hungry for projects with real utility.
TRUMP Coin Crashes to $16 as Panic Selling Intensifies
The numbers don’t lie – TRUMP is in freefall.
After dropping sharply overnight, TRUMP has managed to bounce back slightly to $16 but is still down 6% on the day.
The bigger picture looks even worse: TRUMP has plunged 78% from its all-time high and is now below PEPE in terms of market cap.
What’s even more telling is the coin’s trading volume.
On the surface, TRUMP is the most actively traded meme coin right now, but that’s not necessarily a bullish sign.
Rather than renewed enthusiasm, the high volume signals panic selling, with investors scrambling to unload their holdings before the price drops even further.
This wave of selling pressure has created a brutal feedback loop – one that dip buyers haven’t been able to break.
It’s yet another reminder of how volatile politics-themed tokens can be.
They tend to rocket on hype, only to come crashing down once the initial euphoria wears off.
And right now, reality isn’t looking too bright for TRUMP holders.
Meme Coin Market Tanks as $46B Gets Wiped Out
TRUMP’s slump is part of a full-blown meltdown across the meme coin space.
The sector’s total value has plunged below $70 billion, wiping out more than $46 billion in the past month.
Daily spot trading volumes have also collapsed to under $10 billion, indicating that traders are losing interest.
Almost every major meme coin is deep in the red.
The bloodbath has been especially brutal for newer coins launched during January’s hype cycle – many have already lost over 80% of their value.
Only Test (TST) has managed to defy the trend after its recent Binance listing.
But even Test’s rally has skeptics wondering how long it can last.
With meme coins selling off across the board, some traders think the market has hit peak meme coin fatigue.
After months of wild speculation and ridiculous token launches, investors seem to be shifting toward projects with real utility – believing they offer better long-term potential.
Solaxy Defies Market Slump with $19M ICO Raise – Next Big Crypto Project?
While meme coins struggle, one project proves that real utility matters – and investors are hyped.
Solaxy has now raised over $19 million in its ICO, positioning itself as more than just another hype-driven token.
Instead, it’s solving a pressing issue: congestion on the Solana blockchain.
Unlike TRUMP, which relies on speculation, Solaxy has real utility.
This Layer-2 protocol processes transactions off-chain before settling them on Solana’s mainnet – similar to how Arbitrum and Base have helped scale Ethereum.
Such an approach could be huge for Solana, which has recently struggled with slowdowns.
Ironically, one of the most significant slowdowns was when the TRUMP coin went live.
Alongside its scaling solution, Solaxy is also building a bridge between Solana and Ethereum, aiming to mix the best of both blockchains.
The ecosystem runs on the SOLX token, which holders can stake for APYs of 212%.
Several high-profile names have praised Solaxy’s setup.
The most notable is NASS CRYPTO, a YouTuber with over one million subscribers who thinks the SOLX token could explode once it hits the open market.
Ultimately, the contrast with TRUMP couldn’t be more apparent.
One project is trying to tap into pure meme coin speculation, while the other is laying the groundwork for Solana’s future.
So, as the crypto market matures, Solaxy’s ICO success suggests that investors might finally be choosing substance over hype.
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