President Donald Trump's meme coin, TRUMP, launched on the Solana blockchain, has seen a significant decline in both price and daily trading volume. Despite being listed on popular exchanges like Robinhood, Binance, and Coinbase, TRUMP's trading volume has fallen by 90% since its peak of $36 billion on the day of Trump's inauguration. The price has also dropped by 64% to $26.80. The number of unique TRUMP holders has decreased by 18% since the launch, indicating that some wallets have cashed out. The meme coin initially gained popularity and reached a market cap of $14.5 billion in less than 36 hours, becoming the second-largest meme coin after Dogecoin. However, the launch of First Lady Melania Trump's meme coin caused TRUMP's price to plummet, and it has been unable to recover its previous peak. Chainalysis data suggests that many retail buyers entered the meme coin market for the first time with TRUMP, with around 50% of TRUMP holders not having bought a Solana altcoin before. Although TRUMP's trading volumes have decreased, there are still avid supporters who believe in its future potential. TRUMP is also gaining utility as it is now accepted as a payment option on President Trump's official merchandise websites.



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