Trump Memecoin Loses Momentum with 11% Plunge
The Trump memecoin has experienced a sharp decline in value, dropping over 11% in the last 24 hours. This setback follows a week of significant gains, with TRUMP rising by nearly 60%. The coin's trading volume has also decreased by 33%, indicating reduced activity.
Launched before Donald Trump's presidential inauguration in January 2025, TRUMP hit its peak market capitalization at $9 billion and had a fully diluted valuation of up to $75 billion. However, the coin has since plummeted by 97% from its all-time highs, with its market capitalization now standing at $552 million.
Around one million people have reportedly lost money on TRUMP, resulting in total losses of over $3.8 billion through June. Meanwhile, Trump earned nearly $636 million in royalties and licensing fees related to 'Celebration Coins' last year alone.