Trump Solana Meme Coin Trading Volume Has Collapsed Since Inauguration Day
President Donald Trump's Solana meme coin has seen a dramatic decline in both price and trading volume since its inauguration. On January 20, 2025, the coin recorded a staggering $36 billion in trading volume, but this figure plummeted by 90% to $3.5 billion just days later. The price also fell significantly, currently sitting at $26.80, a 64% decrease from its peak. Despite this decline, there remains a core group of supporters actively holding the coin, with 691,300 unique holders reported. Initially, the launch sparked excitement, pushing the market cap to $14.5 billion, surpassing major cryptocurrencies. However, the release of First Lady Melania Trump's own meme coin shortly after led to a 44% drop in TRUMP's price. Analysts note that roughly half of the wallets holding the coin reflect new retail buyers, indicating a mix of novice and seasoned investors. Despite the cooling trading activity, proponents believe the coin will rebound, highlighting ongoing transactions related to Trump's merchandise.
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