Trump Memecoin Tanks 24% in 7 Days—Gala Hype Fizzles Fast

Another celebrity crypto bites the dust. Trump’s namesake memecoin plunged nearly a quarter this week despite heavy promotion during the Gala Games event. Retail investors left holding the bag—again.

The coin’s volatility highlights the risks of influencer-driven assets. While the Trump brand initially drew speculative interest, the lack of real utility or institutional backing quickly became apparent.

This isn’t financial advice, but maybe stick to coins with actual whitepapers next time. Just saying.

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?