The official TRUMP memecoin—linked to the U.S. President Donald Trump—has taken a major hit, dropping 23.72% over the past 7 days to trade at $10.48, even as Trump plans a high-profile gala dinner for top coin holders on May 22.
Launched in January, the TRUMP token has been promoted as a digital emblem for Trump supporters. While it managed a 17.95% gain over the past month, the recent slide has wiped out much of that momentum. The coin is also down 4.39% in the last 24 hours.
Despite the dip in price, interest in the token remains strong. Its 24-hour trading volume surged nearly 70% to $844.5 million, and the total market cap stands at $2.09 billion.
The upcoming gala dinner has added fuel to the debate over Trump’s involvement in crypto. Critics argue that tying exclusive in-person access to holding a memecoin blurs the line between personal branding and political influence.
Even pro-crypto Senator Cynthia Lummis expressed concern. “A president offering exclusive access tied to a token gives me pause,” she said, calling for more clarity on how events like this fit within ethical and regulatory norms.
While the gala may be aimed at boosting loyalty among supporters, the token’s price drop suggests investor confidence may be wavering, at least in the short term. Whether the May 22 dinner will revive the coin’s price or deepen the controversy remains to be seen.
Also Read: Trump Coin Price Prediction: Is $13.70 or $9 Next for TRUMP?
