The Official Trump (CRYPTO: TRUMP) meme coin, associated with President Donald Trump, has plummeted 84% from its all-time high of $73.4, with its market cap shrinking from $14.5 billion to $2.3 billion, though it gained 13% in the last 24 hours to trade at $12.
What Happened: Launched on the Solana (CRYPTO: SOL) blockchain in January, just before Trump’s presidential inauguration, the token initially soared alongside the MELANIA (CRYPTO: MELANIA) meme coin, with their combined market value briefly surpassing that of Occidental Petroleum, a major oil producer valued at over $50 billion at the time.
Despite the recent daily uptick, the TRUMP coin’s sharp decline reflects broader challenges for Trump-branded cryptocurrencies amid a volatile meme coin market.
The TRUMP …
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