TRUMP Memecoin Drops 24% as Gala Dinner Backlash Grows
The TRUMP memecoin, officially associated with former U.S. President Donald Trump, has dropped 23.72% over the past week to $10.48 despite plans for an exclusive gala event for top holders on May 22. Launched in January as a digital badge for Trump supporters, the token initially gained 17.95% monthly before the recent sell-off erased most gains. Daily losses now stand at 4.39%.
Interestingly, trading volume surged 70% to $844.5 million as speculators doubled down, maintaining a $2.09 billion market cap. The gala has intensified scrutiny over Trump’s crypto engagement, with critics calling out the token’s real-world access perks as regulatory gray areas. Market watchers note the divergence between price action and hype—a hallmark of politicized memecoins.
