$TRUMP Meme Coin crashes 85%! Peter Schiff warns more Americans will lose money in crypto than ever before

The $TRUMP meme coin has suffered a massive decline, plunging 85% from its peak, fueling concerns over speculative investments in the crypto market. As of 10:21 am IST on Friday, the token was trading 2.3% lower at $11.07, a steep drop from its all-time high of $75.35, recorded on January 19, 2025.

Prominent economist and Bitcoin critic Peter Schiff took to social media to warn that more Americans will lose money in crypto than ever before, linking the losses to the growing influence of U.S. President Donald Trump in the digital asset space. Schiff specifically criticized the Strategic Bitcoin Reserve and the overall crypto industry, alleging that they are being used to lure retail investors into highly speculative investments.

Schiff cited the sharp decline of the $TRUMP meme coin as an example of the financial risks he believes crypto investors are facing. "Thanks to Trump, more Americans will lose more money in crypto than in any prior speculative mania in history. The $TRUMP meme coin, already down over 80%, is a perfect example," he tweeted.



Also Read: XRP price surges 11% as SEC drops appeal – Is a new high coming?

Schiff has long been a vocal critic of Bitcoin and its role in financial markets. Recently, he warned that Bitcoin's price is closely linked to the performance of U.S. tech stocks, particularly the Nasdaq. If the index enters a full-fledged bear market, Schiff predicts Bitcoin could drop to $20,000 or lower.

He pointed out that past bear markets have seen the Nasdaq decline between 30% and 80%, and a similar downturn now could accelerate Bitcoin’s collapse. Schiff also argued that the Nasdaq’s recent decline has coincided with gold’s rise, reinforcing his belief that Bitcoin lacks true store-of-value characteristics.

His comments suggest that if Bitcoin crashes, confidence in crypto-related assets—like the $TRUMP meme coin—could erode further, adding to investor losses.

Also Read: Peter Schiff calls Trump’s crypto reserve push a ‘Pump and Dump’, demands congressional probe

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