TRUMP’s official meme coin is down more than -95% from its January 2025 high of $75, and traders who rode the wave ended up acting as if there was a second act to the story. The upcoming Mar-a-Lago conference, which will feature the top 297 token companies, had a trading volume of just $1.4 billion in the run-up, compared to $12.9 billion in comparable pre-dinner trading volume in 2025.
It’s not just the price that makes this particular crash noteworthy. This is the structure below. Two companies, an affiliate of the Trump Organization and a company run by Trump’s longtime partner Bill Zanker, hold the overwhelming majority of the supply and collect fees on every trade.
Trump’s meme coin $TRUMP was once a hot topic in Washington. It is now down more than 95% from its 2025 high.
“People are losing coins and are speaking out." One cryptocurrency investor said: "These are the people who say things like “this coin is crap” or “this is a scam” on Twitter. And they are right…
— Politico (@politico) April 23, 2026
The Trump family and their partners had earned $320 million in memecoin-related trading fees as of April 2026, with the losses absorbed by private buyers. Calculating who profited here is not complicated.
TRUMP is trading at $2.85 today, up just +1% on the day, with a 24-hour trading volume of $103 million and a market cap of $670 million, making it the 86th largest digital asset by value.
(Source: CoinGecko)
Trump: From $75 to the bottom of the barrel
The official TRUMP meme coin was launched just days before President Trump’s inauguration on January 20, 2025, and the timing was intentional. The token reached $75 almost immediately, fueled by a combination of political fever, FOMO, and the kind of social media tornado that only a sitting US president can conjure.
The token lost more than half its value within days of its peak, and the bleeding never stopped. Accusations of insider trading and conflicts of interest quickly followed, and the broader Trump cryptocurrency ecosystem didn’t exactly help sentiment.
Former 2025 Banquet top holder Justin Sun has sued World Liberty Financial over freezing his WLFI holdings, adding further dysfunction to an already tarnished brand and sparking a very public war of words with Eric Trump.
Cryptocurrency investor Morten Christensen, who is still planning to attend the Mar-a-Lago event, put it bluntly: “Nobody likes it. People are losing money on the coin, and they’re screaming. They’re the ones on Twitter saying, ‘This coin is crap,’ ‘It’s a scam,’ etc.” And they’re basically right. ”
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Will the TRUMP meme coin price recover or is the story already broken?
Let’s be frank. TRUMP’s on-chain structure makes true recovery extremely difficult. If most of the supply is in two connected entities that profit from transaction fees rather than price increases, the alignment of incentives will be misaligned to begin with. Think of it like a casino, where the house collects its share whether you win or lose. Retail traders are the product, not the customer.
David Greider, a partner at Finality Capital Partners, said memecoins are “very unpopular right now,” noting that investors are broadly exiting speculative assets. Trump Media & Technology Group stock has fallen -75% since taking office, adding to the sense that the Trump brand’s overall trade is deflating.
Even once-vocal critics on Capitol Hill are shrugging their shoulders, with a senior Democratic Senate aide calling the Mar-a-Lago incident “horribly egregious,” but adding, “People see it for what it is: fraud…This is the bottom of the barrel.”
Whoever buys $TRUMP, I hope the plumbing breaks while you’re shitting pic.twitter.com/7xHgfQYY2V
— TraderSZ (@trader1sz) April 22, 2026
Here’s what the three scenarios look like from here:
Bullish Case: President Trump said something concrete and actionable about $TRUMP in his luncheon speech at Mar-a-Lago, triggering a near-term rally toward $5-$8. Short-term traders could pull off a quick move, although it is unlikely to hold up without structural changes. Base case: $TRUMP is hovering in the $2-$4 range as the event ends without any meaningful catalyst, volume remains thin and the broader meme coin market remains unsupported. This token will be a niche political collectible rather than an actual means of transaction. Weakness/Nullification: Sen. Blumenthal’s investigation into potential SEC violations gains momentum, or further legal fallout from Justin Sun and WLFI manipulation accusations directly impacts $TRUMP. In that scenario, the current price level would not provide meaningful support and sub-$1 would be an honest target.
The April 25th event itself is the next thing to watch, specifically whether the post-speech volume will skyrocket to over $500 million within 24 hours. If not, the base case has already been confirmed.
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The post Why Cryptocurrency Traders Are Focusing on TRUMP Meme Coin first appeared on 99Bitcoins.
