Trump's Meme Coin Spirals 75% From Peak as Market-Wide Drop Reverses All of December and January's Gains

TRUMP was issued a couple of days before Trump's swearing-in ceremony on Jan.20 as the first-ever memecoin officially endorsed by a sitting president.

A market-wide downturn has seen Donald Trump’s TRUMP token continue spiraling further down over the past 24 hours, bringing losses from the peak to a staggering 75%.

TRUMP was issued a couple of days before Trump’s swearing-in ceremony on Jan.20 as the first-ever memecoin officially endorsed by a sitting president. It went from zero to a market cap peak of $14 billion less than 48 hours after going live, although most retail traders lost money on the token, as a CoinDesk analysis showed.

Trump continues to hype up the token on his social media platform, Truth Social, where he posted “I LOVE $TRUMP!!” alongside a link to buy the token over the weekend.

But the market responded with less enthusiasm than anticipated. By Sunday morning, the TRUMP token had dipped to a low of $19.09, its lowest since Trump’s return to the White House and a price below where it was listed on most major exchanges (around the $40 mark).

This serves as a stark reminder of the volatility in celebrity-backed meme tokens, where even high-profile endorsements can pale in the face of broader economic policies and market trends.

In this case, TRUMP’s fall isn’t an isolated incident; it coincided with a broader market downturn triggered by Trump’s announcement of new trade tariffs against Canada and Mexico. Bitcoin (BTC) is down 6% over the past 24 hours, while majors XRP (XRP) and dogecoin (DOGE) are down more than 25% in a steep drop that has reversed all of December and January’s gains.