$TRUMP Token Falls 8% on President's Day Amid Promotions

Donald Trump's official memecoin, $TRUMP, has experienced significant volatility, plunging over 8% on President's Day to around $17.22, a drastic decrease from its initial price of $75. Despite this drop, the token has gained attention through promotions, such as offering free tokens to buyers of Trump-branded merchandise, which could enhance its market legitimacy. Analysts had previously predicted a bullish breakout for $TRUMP, forecasting a potential rise to $54, but the current market sentiment remains cautious amid fears of speculation. The cryptocurrency's success has been mixed, with entities linked to its launch reportedly earning nearly $100 million in trading fees, while many retail investors face losses amounting to $2 billion. As the meme coin market continues to evolve, its future performance may serve as a barometer for Trump's popularity and the broader crypto landscape. Overall, the market value of meme coins has declined significantly since their peak in late 2024, prompting calls for increased risk awareness among investors.