- President Trump’s Solana-based meme token TRUMP dropped to $19.09, marking a post-inauguration low despite his social media promotion.
- The token has declined over 70% from its peak price of $73, with trading volume down 90% since inauguration.
- Former White House Communications Director Anthony Scaramucci criticized Trump’s attempt to “pump” the token.
- The decline coincided with broader cryptocurrency market losses triggered by Trump’s announced trade tariffs.
- Melania Trump’s competing token launch contributed to TRUMP token’s market decline.
The Trump-associated Solana meme coin TRUMP experienced a significant downturn, reaching $19.09 on Saturday, its lowest point since his return to office, according to CoinGecko data. The decline occurred despite the president’s promotional efforts on social media, drawing criticism from cryptocurrency industry figures.
The token’s descent intensified after Trump posted “I LOVE $TRUMP!!” on Truth Social, accompanied by a link to the official token website. Former White House Communications Director Anthony Scaramucci characterized this as a failed attempt to artificially inflate the token’s value, noting that it instead accelerated the price decline.
The cryptocurrency’s performance metrics paint a concerning picture, with daily trading volume plummeting 90% since inauguration day. The token now trades around $21, representing a 6% daily decline and a 27% weekly drop. Most notably, TRUMP has lost over 70% of its value from its January 19 peak of $73.
The broader cryptocurrency market also faced downward pressure, with Bitcoin falling 3% to $99,200, while Dogecoin declined 9% to $0.294. The market turbulence coincides with Trump’s announcement of impending trade tariffs against Canada and Mexico, highlighting the increasing intersection between political decisions and cryptocurrency markets.
Industry analysts attribute TRUMP’s sustained decline to multiple factors, including the launch of a competing token by First Lady Melania Trump, which initially triggered a market sell-off. The token’s performance reflects growing skepticism among cryptocurrency investors about politically-themed digital assets and their long-term viability.
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