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The official TRUMP token, designed to commemorate US President Donald Trump’s second presidency, was an on the spot stumble on launch. The token surged from lower than $10 on January 18th to a excessive of $74.59 on January twentieth earlier than rapidly surrendering some positive aspects inside hours.
Though the token remained aggressive days after the president’s inauguration, by buying and selling above $30, it rapidly light beneath stress. TRUMP dipped under $20 on February 2nd, and it’s now buying and selling at $10.
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Observers say that the broader crypto market and TRUMP’s token are crashing. Nevertheless, TRUMP’s crash just isn’t with out controversy—10x Analysis has disclosed that there was “insider play” earlier than the coin’s large drop. Whereas most merchants misplaced billions of {dollars} throughout its crash, a sizeable variety of early traders cashed in for big income.
Early Buyers Money Out Earlier than Itemizing In Main Exchanges
In accordance with 10x Analysis, most early traders cashed in simply earlier than main exchanges listed the coin, as its worth moved previous $60 and briefly hit $70. The coin’s speedy surge in value was welcomed by everybody, with the early traders getting the perfect seats in the home. After its fast rise, TRUMP suffered a large drop. From the low $20s, it’s now buying and selling at $10, leaving retail and small merchants with losses.
The $TRUMP Dump: When the Hype Fades, Actuality Hits
👇1-4) A transparent instance is the $TRUMP coin, the place insiders and people with early entry on the Washington crypto ball may purchase in earlier than the general public, whereas exchanges rushed to checklist the token because it soared previous $60. After briefly… pic.twitter.com/PVzLcVbL0m
— 10x Analysis (@10x_Research) March 11, 2025
Losses associated to the TRUMP value drop are paying homage to earlier bearish cycles, together with the 2021 NFTs increase and bust. With the TRUMP token, the worth considerably dropped inside the week. By wanting on the greater image, TRUMP token shed greater than 80% since its peak final January. And on-chain knowledge means that early traders rapidly liquidated their positions, with retail and small merchants used as pawns.
Solana Chain Takes A Hit
The Solana ecosystem is likely one of the largest losers within the token’s crash. Apart from TRUMP, a number of different Solana-based tokens confronted promoting stress, together with Raydium’s RAY token, which dropped by 60% within the final month.
Even Solana’s native token, SOL, dropped by over 40% over the identical interval. The drop in worth for SOL-based tokens means that the curiosity in meme cash or speculative tokens is waning.
Pump.enjoyable Additionally Sees Dramatic Shift
Pump.enjoyable, one other main meme coin platform, has additionally witnessed a dramatic drop in community exercise. Over the previous yr, this platform processed 8.4 million meme coin launches, peaking days forward of Trump’s inauguration.
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From Christmas season to early January, as much as 1.7 million meme tokens have been launched on Pump.enjoyable. Nevertheless, the each day launches on Pump.enjoyable have dropped. Additionally, participation charges have fallen on this platform, reflecting declining curiosity on this asset class.
Function picture from Newsweek, chart from TradingView
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