TRUMP Memecoin Plummets as Tariffs Roil Markets

Crypto markets are in freefall on the back of US President Donald Trump’s “Liberation Day” tariff policy, and the TRUMP memecoin has taken a major hit as a result.

The TRUMP coin, which peaked at a fully diluted valuation (FDV) of $75 billion, is down another 13% today to a $9 billion valuation. The token launched on Jan. 17 and skyrocketed to its peak valuation two days later, ahead of Trump's inauguration, and has been in a downtrend ever since.

The token’s major drop on Jan.19 was catalyzed by the launch of Hayden Davis’ MELANIA token, which was promoted by the First Lady on social media.

Today’s selloff has been amplified by the overall market’s volatility, which was caused by unexpectedly high tariff policies implemented by the president on April 2.

The low-float high FDV memecoin may face even more selling pressure throughout the month, as its first round of unlocks are set to begin on April 18. The unlock event will make 4% of the token’s supply, currently worth $360 million, available to be sold by the Trump-affiliated entity CIC Digital LLC.

The memecoin has been scrutinized by both the crypto industry and members of the U.S. government.

The back-to-back launches of the official TRUMP and “official” MELANIA memecoins left many crypto natives and retail investors nursing massive losses on their investments, while members of Congress have floated legislation to force Trump to forfeit any profits made from the token.