Discover the sharp decline in Trump's official meme coin value after peaking historically. Learn about the criticisms and market impact.
Trump’s official meme coin, TRUMP, reached its all-time high of $75.35 on January 19 (30 Dey), just three days after its initial release, coinciding with the start of Donald Trump’s second presidential term. However, the value of this currency quickly decreased to around $21 today, indicating a drop of approximately 72% from its peak. The market value of this coin remains significant, estimated at around $2 billion. Anthony Scaramucci, founder of SkyBridge Capital and a Trump critic, called this a pump and dump scheme and criticized Trump for promoting his coin on the Truth Social social network. Scaramucci asked users to explain how personal coin promotion by the president could be perceived positively.
