President Donald Trump’s official Solana meme coin TRUMP is trading at $10.50, down more than 85% from its all-time high price of $73.43 set in January, according to data from CoinGecko.
The token’s slide coincides with larger drawdowns for leading indices in traditional financial markets and the top crypto assets like Bitcoin and Ethereum, which are each down more than 8% over the last week. TRUMP itself is down about 4% on the day and 19% over the last week.
Those selloffs come as President Trump declined to rule out a recession in a weekend interview, suggesting more macroeconomic uncertainty and volatility induced by his tariffs. Inflation fears slammed financial markets nearly across the board on Monday.
The TRUMP token’s decline is part of a bleaker period for meme coins on Solana, the blockchain of choice for most meme coin trading. That’s thanks in part to token launchpad Pump.fun, which has facilitated the deployment of more than 8 million tokens since its launch in early 2024.
Mired by Argentine President Javier Milei’s LIBRA token scandal in February, which touched other core protocols on the speedy, cost-efficient blockchain, other Solana meme leaders have fallen sharply in the last month.
Fartcoin, for example, has dropped to $0.226—a loss of around 91% from the all-time high price it set just after the President’s token launched on January 19. Meanwhile, Solana tokens Bonk (BONK) and Dogwifhat (WIF) have followed suit, falling 83% and 91% respectively from their all-time highs.
Top meme coins on other blockchains, like Dogecoin (DOGE) and Shiba Inu (SHIB,) have not been spared, dropping 38% and 26% respectively in the last 30 days.
Nevertheless, despite a lull and decline that has led some traders to signal the end of meme coins, Pump.fun has maintained more than 150,000 daily active addresses on its trading and token launching platform.
Solana itself, however, has been battered, with SOL hitting its lowest price in more than a year on Monday.
Edited by Andrew Hayward
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