The $TRUMP memecoin, which was backed by former U.S. president Donald Trump and launched on the Solana network, has plummeted in value by over 90% of all-time highs. What was one of the top-performing memecoin assets is now coming under intense bear pressure. As leading indicators point to further decline, what caused the token to fall, and is it likely to bounce back?
Project Details
$TRUMP was a politically branded memecoin that was introduced in January 2025 under direct promotion by Donald Trump. It was a cryptocurrency that took advantage of Trump's large following and the increasing phenomenon of personality-backed cryptocurrencies. Based on Solana, $TRUMP had offered promise of community rewards, viral traction, and heavy trading.
When it was launched, the token quickly popularized due to tremendous hype and a wave of speculative investments. It reached an all-time high (ATH) of $75.35 on 19th January 2025. As usual with celebrity-associated memecoins, $TRUMP did not have well-defined long-term utility, and its price was largely based on sentiment, branding, and market momentum.
Event Details
As of April 7, 2025, $TRUMP decreased by more than 90% of its ATH, falling to about $7.34. The significant decline indicates broader loss of confidence in the token, compounded by new technical signals. The bearish crossover was confirmed by the Moving Average Convergence Divergence (MACD), where the MACD line of -1.15 dipped below the signaling line of -1.03. In parallel, the Relative Strength Index (RSI) decreased to 27.40, which indicates that the token is in the oversold zone.
In the previous 24 hours, the price of $TRUMP dropped by 18.44% from a high of $9.12 to where it is now. Its market cap has also dropped by 18.42% to $1.46 billion. Open interest in the TRUMP futures, which previously hit a high of $1 billion in January, has also fallen sharply, indicating a fall in the level of traders' interest and demand.
In spite of this bear market, the token also increased from the lowest price of $1.21 (marked precisely one day prior to reaching ATH), which reflected a 545% increase overall. Yet the swift turnaround that happened after late January means that numerous investors are now underwater. Daily charts indicating a consistent downtrend and drying-up of volume prove that bearish market sentiment has taken over.
Potential Impact
The steep decline in $TRUMP's price underscores the danger of memecoins that lack fundamental support. As the volume of trades reduces and volatility picks up, owners may try to sell or switch to newer, better potential coins. Others may wait for a rebound, though without fresh catalysts or utility, any lasting rebound looks unlikely.
For other politically themed tokens, the decline of $TRUMP can also influence sentiment, which translates to diminished investor confidence in other similar projects. Traders are presently rotating away from celebrity coins to find new narratives and better-designed launches, the trend indicates.
(Disclaimer: It is not financial advice.) The $TRUMP memecoin had fallen by more than 90% below its all-time high, showing dismal technical signals and waning investor interest. Although there is still volatility, the token's future in the longer term hangs on whether or not it can break away from the initial hype. In the meantime, it is one of the examples of how fast sentiment-driven assets can fade in a highly speculative environment.
