TRUMP Token Takedown: Will the Insiders Plan for This Collapse?

The Official TRUMP token, designed to commemorate the second term of US President Donald Trump, became a hit immediately upon launch. The token surged from under $10 on January 18 to a peak of $74.59 on January 20 before quickly relinquishing some gains within a few hours. Despite the competitive nature of this token in the days following the presidential inauguration, when trading above $30, it quickly dropped under pressure. TRUMP dropped below $20 on February 2 and is currently trading at $10. Observers say the cryptocurrency market is larger and TRUMP tokens are collapsing. However, the collapse of TRUMP is not without controversy - 10x Research has revealed 'Internal Operations' before this currency plummeted. While most traders lost billions of dollars in its collapse, a large number of early investors made huge profits.

Initial Investors Withdraw Money Before Listing on Major Exchanges According to 10x Research, most early investors withdrew their money just before the major exchanges listed this coin, as its value had surpassed $60 and reached $70 in a short period. The rapid price increase of this coin was welcomed by everyone, with early investors securing the best seats in the house. After the rapid rise, TRUMP had to endure a sharp decline. From a low of $20, it is now trading at $10, causing small and retail traders to incur losses. Losses related to TRUMP's price decline bring to mind previous discount cycles, including the boom and bust of NFTs in 2021. For the TRUMP token, the value has dropped significantly this week. Taking a broader view, the TRUMP token has fallen over 80% since its peak in January last year. And on-chain data shows that early investors quickly liquidated their positions, with retail traders and small investors being used as pawns. Solana Chain affected The Solana ecosystem is one of the biggest losers in the token crash. In addition to TRUMP, some other tokens based on Solana also faced selling pressure, including Raydium's RAY token, which has dropped 60% in the past month. Even Solana's native token, SOL, has dropped more than 40% during the same period. The decrease in value of tokens based on SOL indicates a declining interest in meme coins or speculative tokens.

Pump.fun Also Witness Significant Changes Pump.fun, another leading meme coin platform, has also witnessed a significant decline in network activity. Over the past year, the platform has processed 8.4 million meme coin launches, peaking in the days leading up to Trump's inauguration. From Christmas season to early January, there have been up to 1.7 million meme tokens launched on Pump.fun. However, the daily launches on Pump.fun have decreased. In addition, the participation rate has also decreased on this platform, reflecting a declining interest in this type of asset.