Price of the meme coin TRUMP dropped by 75%

The large-scale downturn in the cryptocurrency market led to a drop in the value of the meme coin TRUMP, which was launched by U.S. President Donald Trump before his inauguration.

No matter how hard the head of state tried to promote the asset, its price fell by 75% from its peak. The relevant data is provided by the TradingView platform. The token is now worth $18, having partially recovered after reaching a low of $15.86. Its market capitalization stands at $3.59 billion. The all-time high for TRUMP was recorded on January 21, when the asset's price reached $48.59.

As for the meme coin of the president's wife, Melania Trump, MELANIA, it continued to decline. Its current price is about $1.42—90% lower than its ATH of $15.5.

Earlier, the Fortune portal reported that President Donald Trump could face a lawsuit over the launch of the meme coin OFFICIAL TRUMP (TRUMP).