The value of President Donald Trump's meme coin, $TRUMP, has fallen by 63% over the past 10 days, resulting in a loss of nearly 9.4 billion dollars in market capitalization. The coin’s value dropped from $14.9 billion on January 20 to $5.5 billion by Thursday, with $TRUMP trading at $27.7 compared to $74 the previous week. Of the coin’s 1 billion maximum supply, 200 million are currently in circulation. The decline in $TRUMP’s value follows the launch of the Melania meme coin on January 20 by Melania Trump, which caused a dip in $TRUMP’s market cap, which hasn’t fully recovered since then.
