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.