President Donald Trump’s official Solana meme coin TRUMP is buying and selling at $10.50, down greater than 85% from its all-time excessive worth of $73.43 set in January, in line with knowledge from CoinGecko.
The token’s slide coincides with bigger drawdowns for main indices in conventional monetary markets and the highest crypto property like Bitcoin and Ethereum, that are every down greater than 8% over the past week. TRUMP itself is down about 4% on the day and 19% over the past week.
These selloffs come as President Trump declined to rule out a recession in a weekend interview, suggesting extra macroeconomic uncertainty and volatility induced by his tariffs. Inflation fears slammed monetary markets practically throughout the board on Monday.
The TRUMP token’s decline is a part of a bleaker interval for meme cash on Solana, the blockchain of selection for many meme coin buying and selling. That’s thanks partly to token launchpad Pump.enjoyable, which has facilitated the deployment of greater than 8 million tokens since its launch in early 2024.
Mired by Argentine President Javier Milei’s LIBRA token scandal in February, which touched different core protocols on the speedy, cost-efficient blockchain, different Solana meme leaders have fallen sharply within the final month.
Fartcoin, for instance, has dropped to $0.226—a lack of round 91% from the all-time excessive worth it set simply after the President’s token launched on January 19. In the meantime, Solana tokens Bonk (BONK) and Dogwifhat (WIF) have adopted swimsuit, falling 83% and 91% respectively from their all-time highs.
Prime meme cash on different blockchains, like Dogecoin (DOGE) and Shiba Inu (SHIB,) haven’t been spared, dropping 38% and 26% respectively within the final 30 days.
However, regardless of a lull and decline that has led some merchants to sign the finish of meme cash, Pump.enjoyable has maintained greater than 150,000 each day lively addresses on its buying and selling and token launching platform.
Solana itself, nonetheless, has been battered, with SOL hitting its lowest worth in additional than a 12 months on Monday.
Edited by Andrew Hayward
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