Trump’s Meme Coin Tanks 75% From Peak Despite His Endorsement: Retail Sentiment Hits Record Low

The market-wide selloff triggered by President Donald Trump’s announcement of new tariffs on China, Mexico, and Canada over the weekend has extended to his own cryptocurrency, the TRUMP token. 

The meme coin, officially endorsed by Trump, has plummeted 75% from its peak, reflecting a sharp decline in investor confidence.

Despite Bitcoin’s recovery after the U.S. President announced a month-long delay in tariffs on Mexico, TRUMP was still in the red by over 8% during U.S. market hours on Monday. 

This downturn comes despite continued endorsements from Trump, who posted "I LOVE $TRUMP!!" with a link to purchase the token on his social media platform, Truth Social, over the weekend.

By Sunday morning, the token had dropped to $19.09, its lowest price since Trump’s return to the White House, and well below its listing price of around $40 on major exchanges.

On Stocktwits, retail sentiment around TRUMP plummeted to its lowest level since the token’s launch to ‘extremely bearish’ territory accompanied by ‘normal’ message volumes. 

One user commented that even for meme coins, Official Trump’s drop from its peak of $52 to $17 was impressive. 

Another quipped that any other political figure-led meme coin would be a better bet at this time than TRUMP.

TRUMP was issued a couple of days before Trump’s swearing-in ceremony on Jan.20 as the first-ever meme coin officially endorsed by a sitting president.

It ran from zero to a market cap peak of $14 billion less than 48 hours after going live but has not recovered since.

At the time of writing, TRUMP is trading at $18.65, marking a 75% decline from its peak of $73.43.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Read also: BTC, ETH, XRP Crash Wipes Out January Gains After Tariff Shock: Retail Lashes Out At Trump

Share

·

Add us on