President Donald Trump’s official Solana meme coin–TRUMP–has reached a worth not seen since simply hours after its launch, as buying and selling volumes of the token slide to new lows.
The President’s meme coin dipped to $14.86 late Sunday, marking the bottom worth notched by CoinGecko since early on January 18, simply hours after the token was launched by Trump a pair hours forward of his inauguration.
TRUMP is down 2.6% within the final 24 hours whereas different main crypto belongings like Bitcoin and Dogecoin have remained comparatively regular, up 0.6% and down 0.1% respectively throughout that span.
At a present worth of $16.16, TRUMP’s slide marks an additional decline of 40% within the final 14 days in accordance with CoinGecko. It is now down 78% from an all-time excessive worth above $73 set on January 19.
The token’s decline, which bumped it to #44 by market cap total amongst all crypto belongings, has come regardless of at the very least one latest try by the President to advertise the token, doing so final in a January 31 publish on Fact Social.
“I LOVE $TRUMP,” he posted, sharing a hyperlink to the official Get Trump Memes web site alongside it. No rapid reduction got here, with the token falling as a substitute within the hours after the publish.
Not solely is the token down, however buying and selling quantity has fallen precipitously, recording an all-time low on Sunday when it noticed lower than $1 billion in quantity in accordance with information from CoinGecko.
By comparability, the token traded greater than $20 billion on common within the first 5 days after launch. Sunday marked the bottom each day tally up to now for the fading Solana meme coin.
The token’s slide, alongside that of different main crypto belongings, may very well be attributed partly to the continuation of tariff bulletins from President Trump himself. Bitcoin and Ethereum every have misplaced practically 2% on the week, whereas XRP slid about 5% in the identical time. Most main belongings plummeted in worth earlier this month as tariff plans have been first introduced.
Nonetheless, Trump-connected entities proceed to make strikes in crypto. Final week, Trump’s media agency introduced plans to launch a Bitcoin ETF below the Fact.Fi banner. In the meantime, World Liberty Monetary—which Trump and his sons are advising—has added belongings to its treasury whereas reassuring the group it’s “not promoting” belongings.
Edited by Andrew Hayward
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