Trump Solana Meme Coin Crashes: Inflation Fears Trigger Crypto Sell-Off!
With its price falling 85% from its peak due to general market volatility, the excitement surrounding President Trump’s Solana-based meme coin has quickly subsided. Bitcoin has also suffered, coming under fresh selling pressure as investor sentiment is weighed down by worries about ongoing inflation.
As traders prepare for possible interest rate changes and regulatory developments, the steep decrease in both assets underscores the rising unpredictability in the cryptocurrency industry. It is still unclear if Trump’s meme coin and the larger cryptocurrency industry will make a resurgence, given the escalating macroeconomic challenges.
LIBRA Token Scandal Rocks Solana: TRUMP Meme Coin and Others Plunge
CoinGecko data shows that President Donald Trump’s official Solana meme coin, TRUMP, is currently trading at $10.49, down more than 85% from its peak price of $73.43 established in January. Today, TRUMP is down roughly 4.93%, and over the past week, he has lost 14.44%. Solana, the preferred blockchain for the majority of meme coin transactions, is going through a darker time right now, which includes the decline of the TRUMP token. This is partly because of the token launchpad Pump.fun, which, since its launch in early 2024, has made it easier to deploy over 8 million tokens.
Other Solana meme leaders have plummeted in the past month because of the LIBRA token controversy in February, which involved Argentine President Javier Milei and affected other essential protocols on the quick, economical blockchain. Pump.fun has managed to keep over 150,000 daily active addresses on its trading and token launching platform, even if there has been a pause and fall that has caused some traders to predict the death of meme coins.
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