The Official Trump meme coin ($TRUMP) price has plummeted over 50% in just seven days, tumbling from an all-time high of $74 to a low of $25. This sharp downturn follows a series of sell-offs by large investors and whales who capitalized on the token’s meteoric rise.
As a result, TRUMP’s market capitalization has collapsed from $14 billion to $5.3 billion—a staggering 62% decline. The meme coin is down 15% in the last 24 hours as the entire crypto market faces a broader sell-off with leading cryptocurrencies falling significantly. Bitcoin fell below $100,000 while Ethereum touched $3,000 mark. The entire crypto market cap plunged to $3.5 trillion, down nearly 8% in the last 24 hours.
Source: CoinGecko
Whale Sell-Offs Drive TRUMP’s Downfall
On-chain data from Nansen reveals that TRUMP’s most profitable investor secured $53 million in gains before fully exiting their position.
The second-largest investor liquidated 70% of their holdings, cashing out $44 million, further amplifying selling pressure. These sell-offs have left retail traders with limited exit opportunities as the token continues to lose value.
https://twitter.com/cryptobobby__/status/1883277041266778116
Investor sentiment has deteriorated rapidly, with the number of “smart money” investors plunging from 340 last week to just 130 today—a 62% drop. Their total token holdings have also shrunk from 30 million to 14.4 million, further contributing to the downward spiral.
The pattern mirrors that of other speculative meme coins, where early excitement often leads to drastic corrections as profit-taking ensues.
Legal and Regulatory Challenges Surrounding TRUMP Coin
As TRUMP’s value tumbles, the project is drawing scrutiny from U.S. lawmakers. Senator Elizabeth Warren and Representative Jake Auchincloss have raised concerns about potential market manipulation and foreign interference, urging regulators to investigate the token’s role in U.S. politics.
https://twitter.com/globalrashid007/status/1882743764739031041
Additionally, investors who have suffered losses are contemplating legal action, reminiscent of the recent lawsuit against HAWK token promoters for allegedly marketing an unregistered security. These regulatory uncertainties are further shaking investor confidence and casting doubts on the coin’s long-term viability.
Investor Confidence in TRUMP Coin Continues to Erode
Despite initial excitement surrounding the TRUMP meme coin, investor confidence is waning as the coin faces sustained downward pressure. The Trump family’s involvement in the crypto space—highlighted by Melania Trump’s meme coin launch and pro-crypto sentiments—initially sparked optimism. However, market trends suggest that $TRUMP, much like Dogecoin and other meme coins, could struggle to maintain relevance without real-world utility.
With mounting legal concerns, plummeting demand, and a shrinking investor base, TRUMP’s future remains uncertain, potentially limiting its appeal to short-term speculative trading rather than long-term investment.
Solaxy Presale Surpasses $15 Million Milestone
While the TRUMP meme coin faces challenges, the Solaxy ($SOLX) presale is gaining significant momentum, surpassing $15.31 million as it nears its final target of $15.61 million. Solaxy is positioning itself as a vital solution to Solana’s scalability issues by introducing Layer 2 infrastructure, enhancing transaction speeds, reducing costs, and optimizing network efficiency.
https://twitter.com/SOLAXYTOKEN/status/1883504044318327106
Investor demand for Solaxy continues to grow, with the current token price at $0.001616. The project has attracted over 3,500 Telegram members and 62,000 X followers, reflecting robust market interest. As the presale nears completion, investors have a limited opportunity to secure SOLX tokens before the next price increase.