US President Donald Trump’s digital currency has fallen sharply, losing more than 90% of its value compared to its peak a year ago, signaling waning enthusiasm for the controversial cryptocurrency.
The $TRUMP coin was launched before Trump’s inauguration in January 2025, and quickly jumped from $1.20 to a record high of $75.35, according to CoinMarketCap data.
A year later, it is trading at $4.86, down 94% from its peak, according to a Financial Times report on Wednesday, January 21.
Melania Trump, the president's wife, launched her own digital currency days after the launch of Trump's currency.
Its price rose to $13.73 before falling to less than $0.15 currently, a 99% drop from its peak.
This dramatic collapse resulted in heavy losses for investors who bought at the peak and intensified criticism of the US president's cryptocurrency activities. A Financial Times investigation revealed that the Trump family's involvement in this sector generated over $1 billion in pre-tax profits.
Meme coin fever peaked in late 2023 and early 2024, as these coins attracted speculative interest despite having no intrinsic value, business model, or cash flows, and relying solely on their popularity and connection to viral moments or public figures.
Despite the significant drop, $TRUMP still ranks fifth among the largest meme coins in terms of market capitalization, according to CoinMarketCap data.
Trump and Melania's currency purchases have faced widespread criticism from industry experts, governance analysts, and Democrats, who have seen them as a quick way to make money and abuse power.
The investigation showed that the two currencies generated approximately $427 million in sales and trading fees.
Since returning to the White House, Trump has continued to support the cryptocurrency sector by appointing pro-technology regulators and granting pardons to some convicts, while his family has launched several new digital projects.
Governance experts have called for stricter rules governing the structure of the US cryptocurrency market, including strong safeguards against government conflicts of interest. Groups such as Democracy Defenders Action and the Project on Government Oversight sent letters to the Senate last week demanding a ban on the president and other top officials owning or trading cryptocurrencies.
These groups warned that the system could be exploited by those in power, exposing ordinary investors to fraud, manipulation, and abuse, pointing to the Trump family's activities in this area.
Trump's companies have moved on to other projects, with Trump Media & Technology Group, the family-owned Truth Social platform owner, planning to issue a new cryptocurrency to shareholders on February 2, as part of a deal with Crypto.com.
