Donald Trump's namesake memecoin recently took a hit on the market following an unexpected admission by the former President.
Donald Trump's Statement
At a January 21 press conference, Donald Trump admitted that he wasn't familiar with the status of his memecoin beyond its successful launch. He also inquired about its current status.
TRUMP's Market Decline
Following Trump's statements, the value of his memecoin fell from over $48 to around $42. The total decline reached over 43% compared to its peak of $73.43 recorded on January 19.
Crypto Community Reaction
The crypto community expressed skepticism about Trump's memecoin. Experts noted the lack of comments from Trump regarding the token launch, suggesting this might explain the decline in its market value.
TRUMP's decline in value links to Donald Trump's statements and the crypto community's skepticism. This case highlights the uncertainty of such projects without active involvement from their creators.
