TRUMP Dumps, then Rebounds on Misleading Headline

Aided by some clickbait-y headlines, President Donald Trump knocked about 17% off his TRUMP token when he confessed to not knowing much about how the memecoin has been trading since its Jan. 17 launch.

Asked about his profits on the token at a news conference, he said, “I don’t know where it is. ​​I don’t know much about it other than I launched it, other than it was very successful.”

Which led to the headlines suggesting that he didn’t know much about his token at all.

TRUMP dropped very briefly from around $48 to around $32.50 before rebounding back to $40, where it has stayed since.

Pointing to a post on DB News’ X account that read, "TRUMP ON HIS MEMECOIN 'I DONT KNOW MUCH ABOUT IT," X user Ponzi Trader said, “this headline costed me $70,000,” adding, “I mean it’s a completely different variance when you include the ‘I launched it’ part of the clip?”

When he asked how much he’d made, President Trump was told “several billion” dollars. He pointed to three billionaires standing next to him, Oracle CTO and Executive Chairman Larry Ellison, Softbank CEO Masayoshi Son and OpenAI head Sam Altman, and quipped “that’s peanuts for these guys.”

All in the family

President Trump’s token may have stabilized, but it’s still down 46% from its four-day all-time-high of $72.62. That’s still good enough to keep it in the top 30 cryptocurrency tokens, with a market capitalization of about $8.7 billion. It’s still up over 800% from its launch-day low of $4.29.

It’s interesting to note that TRUMP’s slump began just after First Lady Melania Trump launched her own token, MELANIA. Which at $3.66 is well down from its all-time high of $13.05. That’s still good enough to make MELANIA the 178th token by market cap, at $552 million.