TRUMP Token Falls 75% Despite Continued Endorsement from Donald Trump
Donald Trump's TRUMP token has experienced a 75% decline from its peak, reflecting broader market trends. Key points include:
- TRUMP was launched days before Trump's swearing-in as the first memecoin endorsed by a sitting president.
- The token reached a market cap of $14 billion within 48 hours but most retail investors lost money.
- Trump continued to promote the token on Truth Social, posting "I LOVE $TRUMP!!" with a purchase link.
- As of Sunday morning, TRUMP fell to $19.09, below its initial listing price of around $40.
- The decline is part of a wider market downturn linked to Trump's announcement of new trade tariffs against Canada and Mexico.
- Bitcoin dropped 6%, while XRP and DOGE fell over 25%, erasing gains made in December and January.