Trump Comments on His Memecoin, Triggering 30% Price Dip
Donald Trump’s memecoin, TRUMP, experienced a sharp 30% drop in value following remarks from the former president suggesting he wasn’t closely following its progress.
The token briefly fell to $32 on some platforms before recovering to around $43. Initially launched just before Trump’s second inauguration, TRUMP had previously peaked at $76 with a market cap of $12 billion, but its price has remained highly volatile.
In a recent media appearance, Trump acknowledged the token’s existence but admitted he wasn’t tracking its performance. When informed of its valuation, he brushed off the billions involved as “peanuts” for the team managing it.
READ MORE: New SEC Filing Proposes Official Trump Token ETF Amid Rapid Crypto Market Growth
Market activity during the dip drew attention, as an anonymous investor reportedly bought $5 million worth of TRUMP at its lowest point, netting an estimated $2.4 million within minutes of the rebound. As of now, the token trades near $41, boasting a market cap of $8.2 billion and a fully diluted valuation of $41 billion.
Trump downplayed his involvement, stating, “I don’t know where it is. I don’t know much about it other than I launched it. I heard it was very successful.” Despite the fluctuations, the token continues to attract significant trading interest and speculation.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
