TRUMP Token Takedown—Did Insiders Plan The Crash?
The TRUMP token, launched to commemorate Donald Trump's second presidency, surged from under $10 to a high of $74.59 shortly after its release but fell below $20 by February 2nd and is currently trading at $10. Early investors profited significantly by cashing out before major exchanges listed the token, while retail traders faced substantial losses as the token's value dropped over 80% from its peak. The broader crypto market is experiencing a downturn, with the Solana ecosystem suffering notably; Solana's native token, SOL, and other Solana-based tokens like Raydium's RAY have seen significant declines. Interest in meme coins is waning, as evidenced by a drop in network activity on platforms like Pump.fun, which processed millions of meme coin launches but has seen participation rates decline recently.
