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Trump Meme Coin’s market cap loses 6 billion USD in value before his swearing-in

The Official Trump ($TRUMP) token, launched on Solana, surged to over 15 billion USD within two days before experiencing a steep decline to 9 billion USD, indicating a loss of 6 billion USD in market capitalization.

Investors express worries about market manipulation due to the fact that 80% of the token is held by a small group. Additionally, $TRUMP has emerged as Binance’s most traded coin with a 24-hour trading volume of 6.3 billion USD, raising speculation about its long-term value.

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