TRUMP Coin's Sharp Decline
The cryptocurrency TRUMP coin has experienced a significant price drop of over 16%, reaching a low of $26.304 per coin** according to CoinGlass market data. This marks the sixth consecutive trading day of decline since January 22nd, when the coin began its downward trajectory from **$43 per coin.
The token was launched on January 18th when former U.S. President Donald Trump announced his personal Meme coin TRUMP via social media. Users were directed to the website "gettrumpmemes" to acquire the token.
Market Reactions and Expert Opinions
Industry experts have expressed concerns about potential market manipulation:
"If Trump or his organization were to sell substantial holdings, it would likely be viewed as unethical behavior that could fuel further cryptocurrency partisan conflicts. For the benefit of the entire ecosystem, we hope he refrains from such actions."
Recent reports suggest Trump is unlikely to sell his holdings in the near term, as the reputational damage from perceived market manipulation could outweigh any financial gains.
Broader Cryptocurrency Market Impact
Major Cryptocurrencies Also Decline
The market downturn isn't isolated to TRUMP coin:
- Dogecoin, SOL, and SUI coins dropped over 7%
- Ethereum, Binance Coin, and XRP fell more than 3%
- Bitcoin dipped to $102,000, marking a 2.87% 24-hour decrease
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Liquidation Statistics
CoinGlass data reveals:
- 166,400 traders liquidated in past 24 hours
Total liquidation value: $451 million
- Long positions: $410 million
- Short positions: $45.485 million
- Largest single liquidation: $98.463 million on HTX-BTC
Regulatory Developments
On January 24th, Trump signed a cryptocurrency executive order establishing:
Presidential Digital Asset Markets Working Group
- Chair: White House "AI and Crypto Czar" David Sacks
- Members: Treasury Secretary and other agency heads
Key Mandates:
- Develop federal regulatory framework for digital assets
- Evaluate potential national digital asset reserve
- Recommend regulatory modifications
Prohibitions:
- Ban on central bank digital currency (CBDC) development
- Reversal of previous administration's digital asset policies
Frequently Asked Questions
Why did TRUMP coin drop so sharply?
The 16% decline reflects broader market trends combined with concerns about potential large-scale sell-offs by early holders.
How does Trump's executive order affect crypto markets?
The order aims to create clearer regulations while preventing CBDC development, potentially reducing market uncertainty long-term.
What was the largest single liquidation?
A $98.46 million position on HTX-BTC was the largest recorded liquidation during this market movement.
👉 Learn more about cryptocurrency regulations
Market Outlook
Analysts suggest the current downturn may present buying opportunities for long-term investors, though volatility is expected to persist in the short term. The establishment of clearer regulatory frameworks could ultimately strengthen market stability.