Trump Memecoin Suffers Sharp Decline Amid Broader Crypto Market Pullback

The Trump Memecoin, which has been making headlines for its meteoric rise and fall, experienced a sharp decline of over 11% in the last 24 hours. This drop comes after a week of significant gains, during which the coin delivered nearly 60% returns.

Despite this setback, the memecoin's trading volume still shows some activity, although it has fallen by 33% in the past day. The broader cryptocurrency market also took a hit, with major players like Bitcoin and Ethereum experiencing losses from their recent highs.

The Trump Memecoin was launched shortly before Donald Trump's presidential inauguration in January 2025, reaching an all-time high of $9 billion in market capitalization. However, its value plummeted just as quickly, leaving investors facing significant losses. The coin has now dropped by a staggering 97% from its peak and its market cap stands at around $552 million.

Senators Elizabeth Warren and Richard Blumenthal have recently called for an investigation into the TRUMP memecoin, labeling it a potential 'illegal scam'. Meanwhile, Trump himself reaped nearly $636 million in royalties and licensing fees related to 'Celebration Coins' last year.