Trading volumes of Donald Trump's meme coin Official Trump ($TRUMP ) increased by thousands of percent on major cryptocurrency exchanges over the past week, but the token's price began to fall sharply. Since April 23, trading volumes in the pair TRUMP/USD on platforms such as Coinbase and Kraken have grown by 355% and 1040% respectively, thanks to the announcement of a dinner with Trump for major token holders.
However, after this price rise was replaced by a decline. As of April 29, the meme coin is showing the largest price drop among top cryptocurrencies: its value decreased by 9.6%, and market capitalization fell from over $3 billion to about $2.7 billion. Senators Elizabeth Warren and Adam Schiff expressed concerns about potential corruption risks associated with the events and are calling for an investigation.
Thus, the volatility of the cryptocurrency continues to be a problem for investors, highlighting the risks in this area.
