TRUMP Memecoin Crashes Over 70% In Two Weeks, Fuels Rugpull Accusations

The TRUMP Memecoin launched on the Solana network on January 17, 2025, just three days before Trump became President of the United States.

The official memecoin of former U.S. President Donald Trump (CRYPTO: TRUMP) has lost over $10 billion in market capitalization over the last 2 weeks, with crypto investors and analysts accusing Trump and his team of "rug-pulling" its early investors.

What Happened: The TRUMP memecoin launched on the Solana (CRYPTO: SOL) network on January 17, 2025, just three days before Trump became President of the United States.

Two days after its launch, on January 19, the price of the memecoin peaked at $75.35, with a market cap of over $15 billion.

However, since then, the price has dropped by 71.3%, briefly falling to $19.09 at 21:26 GMT+1 on February 1. It has since risen slightly to around $21.14 as of 9:01 on February 2.

Despite this slight rebound, it has declined by 12% in the last 24 hours, contributing to a 32% loss over the past week.

According to CoinGecko, the TRUMP memecoin now has a market cap of $4.2 billion and ranks as the 37th largest coin by market cap. It has fallen from the 15th spot, reflecting how severely the new President’s coin has been impacted.

The First Lady’s memecoin, Official Melania Meme (CRYPTO: MELANIA), has also sharply declined. It is down 87.85% from its all-time high of $13.73 on January 20, 2025, to its current price of $1.66, with no signs of recovery soon.

Trump’s Memecoin Fuels 'Rugpull' Accusations: The poor performance of the White House memecoins has caused division in the crypto community, with many people upset about the ongoing price drop, while others remain hopeful about the future value of the TRUMP and MELANIA memecoins.

There are claims that the 47th President of the United States took investors’ money, benefiting himself by billions.

Anthony Scaramucci, founder of SkyBridge Capital and a former Trump supporter, slammed the President for potentially running a pump-and-dump scheme.

He referenced a post from Trump on Truth Social in which he promoted the coin. Trump wrote, “I LOVE $TRUMP!!”, which was seen as an attempt to raise the coin’s price. Instead, it led to more selling.

Scaramucci tweeted on Saturday, “The result has been an acceleration of the ‘dump,’ now down 70% from its peak. The jig is up.”

A tweet from user @0xKeisean sarcastically called Trump the “first president to rug pull in history.” The tweet included a chart showing the price plummeting from $72 to $31 against USDC on January 19.

$maybe it was a always a pump and dump

GGs @realDonaldTrump $TRUMP

First president to rug pull in history

Country is in good hands lmao pic.twitter.com/dEie14LHkO

This follows Trump’s public promotion of the token, which initially increased interest but later caused panic selling. The drastic price drop has led to questions about whether Trump or his associates were financially involved in the token’s rise and fall.

With the memecoin now down over 70% from its peak, investor sentiment has turned negative, and many are calling for an investigation into the token’s background and marketing efforts.

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