Trump's token "TRUMP" fell more than 70% from its high point

In the past 24 hours, the overall decline of the cryptocurrency market has further caused the token "TRUMP" issued by Trump to drop, reaching an astonishing 75% from its peak. Trump issued the token a few days before his inauguration ceremony on January 20th. It is the first "meme coin" officially recognized by a sitting US president. An analysis by CoinDesk shows that in less than 48 hours since its launch, the token's market value soared from zero to a peak of $14 billion, although most retail traders lost money on this token. Trump had continued to voice his support for the token on his social media platform, but the market's reaction was not as enthusiastic as expected. As of Sunday morning local time, the price of the Trump token had fallen to a low of $19.09. (Jinshi)