Official TRUMP drops 13%, loses top 3 meme coin status
TRUMP suffers from whale sell-off
Although the Official TRUMP meme coin has grown over 350% since its launch, this was not enough to maintain its position among the top three meme coins by market capitalization.
On January 25, the official token of the U.S. president lost nearly 13%, with its price dropping to $29 at the time of writing. This decline allowed the Pepe token to reclaim third place among top meme coins, while TRUMP fell to fourth, with a market capitalization of $5.8 billion.
TRUMP price dynamics on January 25 for 24 hours. Source: CoinMarketCap
Currently, TRUMP lags nearly tenfold behind DOGE in market cap and is more than twice as small as Shiba Inu, with Pepe holding a $6.4 billion valuation.
The drop in TRUMP's value was triggered by large-scale sell-offs by whales, who recognized that most meme tokens tend to decline after the initial hype. They rushed to secure profits before the market cooled.
Nansen data revealed that the most profitable TRUMP investor earned $53 million and has sold all their tokens. Another investor made $52 million, liquidating around 70% of their holdings for $44 million.
The end of the meme coin peak?
Most major buyers of Official TRUMP have sold either all or a significant portion of their tokens, leaving retail investors hoping for a recovery in its value.
Such hopes might hinge on the token gaining utility, possibly linked to presidential activities.
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However, renowned crypto analyst and influencer Michaël van de Poppe associates the decline in TRUMP with the end of the meme coin peak, as investor interest shifts toward Ethereum and other altcoins.
As we wrote, at the World Economic Forum in Davos, US President Donald Trump vowed to establish the United States as the global capital for cryptocurrency and artificial intelligence (AI), reinforcing his administration’s pro-crypto stance.
