TRUMP Token Plummets Amid Regulatory Pressure and Gala Backlash
The TRUMP meme coin experienced a sharp decline after failing to break the $16 resistance level, as political and regulatory pressures intensified. U.S. lawmakers proposed the ’Stop TRUMP in Crypto Act,’ aiming to restrict cryptocurrency activities by presidents and their families, further destabilizing the token.
Controversy surrounding an exclusive gala event for top holders added to the skepticism, despite high-profile endorsements from figures like TRON founder Justin Sun. The token’s price dropped to $14, casting doubt on its sustainability in an increasingly regulated market.