Trump's Memecoin may be losing appeal, and there may be many reasons:

1. **Declining public attention**: According to an article on Crypto China C's official account, politically related meme coins have seen strong growth in the run-up to the US election, but public attention is gradually declining. Many analysts believe that these tokens may peak in the next two months before gradually losing appeal after the election.

2. **Lack of long-term value**: Anonymous analyst Crypto Rand warned that liquidity will drop sharply when over-hyped sentiment subsides, and lack of liquidity may cause investors to fall into trading difficulties. In addition, meme coins are often more dependent on market sentiment and hype on social media than on solid fundamentals and practicality, leading to rapid growth but also rapid decline.

3. **Change in investor perception**: According to the South China Morning Post, with the rise of Trump, the deterioration of Sino-US relations, and the US's poor response to the epidemic, more and more Chinese "public intellectuals" who once had a good impression of the US system have gradually changed their views on it. This change may reflect that the Chinese public's perception of the United States has gradually turned questionable against the backdrop of rising geopolitical tensions between China and the United States, which may have indirectly affected the appeal of Trump Memecoin.

4. **Uncertainty of election results**: Although Trump is leading in the race, the situation may be reversed considering that there are nearly two weeks to the 2024 US election. Harris was leading in the race earlier, which means that the election results are still full of uncertainty, and this uncertainty may have affected the confidence of Memecoin investors.

5. **High failure rate of Memecoin**: According to FinanceFeeds, Memecoin has a failure rate of up to 97% and inherent risks. Despite this, investors are still attracted by its high return potential. However, as market sentiment changes and investors' awareness of risks increases, Trump Memecoin may be losing its appeal.

In summary, Trump's Memecoin may be losing its appeal due to the decline in public attention, lack of long-term value, shifting investor perceptions, uncertainty of election results, and the high failure rate of Memecoin itself.