The Solana-based memecoin named TRUMP, launched by former U.S. President Donald Trump, has experienced a significant decline of 10.36% in the past 24 hours. This drop has ranked it seventh among the biggest losers in terms of market capitalization across all digital assets. The price decrease comes on the heels of the announcement of new U.S. tariffs, leading to market turmoil and increased concerns about a potential recession. TRUMP is currently trading at $9.29, marking a decrease of nearly 19.4% over the past week and 28.84% over the past month. Its market capitalization stands at $1.86 billion, with a 24-hour trading volume of $834.75 million. The token currently sits at 87.63% below its all-time high of $75.27 which was reached on Jan. 19, 2025.
This decline in TRUMP’s price coincides with a shift in macro sentiment, as indicated by Polymarket’s prediction market showing an increase in the probability of a U.S. recession this year. The odds rose from 42% to 52% overnight following the tariff announcement. The concern revolves around the impact of the blanket 10% tariff on all imports, coupled with country-specific penalties, on input costs across various sectors. This pressure could potentially affect both consumers and corporate earnings, leading to further market volatility.
On-chain metrics for TRUMP show concerning signs for token holders, with only 1% of addresses currently in profit at the current price level. The token displays a 0.47 correlation with Bitcoin, suggesting some exposure to broader market trends. However, recent price movements have diverged significantly. The ownership structure of TRUMP remains heavily concentrated, with 77% of the circulating supply held by large addresses, many of which are linked to entities associated with Trump. The lack of large transactions in the past week, as well as flat network growth and declining Telegram membership, contribute to an overall “mostly bearish” sentiment.
The launch of the Trump memecoin in 2025 garnered attention due to its association with the former President and the “Make America Great Again” branding. However, the token’s utility beyond serving as a political meme and fundraising tool remains unclear. Concerns over governance transparency and centralized holdings have led to skepticism within the crypto community. The recent announcement of tariffs has added to the already volatile market environment, impacting meme tokens like TRUMP and other lower-liquidity assets.
TRUMP’s transaction demographics show a slight skew towards Western jurisdictions, with 53% of activity originating from these regions. This indicates that a significant portion of trade in the memecoin occurs outside the U.S. As the implementation of the tariff policy unfolds, there may be further market repricing across politically exposed assets. Currently, TRUMP’s decline reflects a broader risk-off sentiment among investors as they assess the potential inflationary effects of trade changes and the likelihood of economic contraction in the coming quarters.
