Entities behind President Donald Trump’s crypto coin have accumulated close to $100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money.

Trump’s meme coin, $TRUMP, and Melania Trump’s coin, $MELANIA, plunged as the news agitated markets worldwide, according to Axios. $TRUMP — unveiled days before his inauguration — saw its value drop by 18% just over the last day. It's now down to $17.50 per token, compared to a peak of $72.62 the day before his swearing-in.

Donald Trump's Solana meme coin fell to the lowest price seen since just hours after launch. It's now the biggest loser in the top 100 coins.

But meme coins are suddenly more serious. Spurred on by Donald Trump's new embrace of cryptocurrency, meme coins are attracting more fans and fresh scrutiny. Days before he took office for a second term,