The TRUMP token, a meme coin associated with former President Donald Trump and launched on the Solana blockchain, has experienced a sharp price decline following Trump’s recent inauguration. In the past 24 hours, the token’s value plunged from $74 to $38, leaving some investors shaken.
The cause of the drop remains unclear, though many speculate it could be linked to unmet expectations surrounding Trump’s inauguration speech on January 20. Crypto traders had hoped for remarks related to cryptocurrency, but the president made no mention of the sector during his 30-minute address.
Despite the downturn, some large-scale investors, known as “whales,” are capitalizing on the price dip. According to lmk.fun, a platform tracking major Solana transactions, these investors are betting on the token’s future potential. In recent transactions, one whale spent 7.06 million $USDC to purchase 207.87K TRUMP at $34, while another spent 3.17 million $USDC for 99.53K TRUMP at $31.8.
The TRUMP token, notorious for its extreme volatility, has seen massive spikes in value, once reaching a market cap of $31 billion—surpassing major cryptocurrencies like Cardano, TRON, and Bitcoin Cash.
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