TRUMP Token Takedown—Did Insiders Plan The Crash? 📉
The TRUMP token, created to mark Donald Trump’s second presidency, experienced a rapid rise from under $10 to $74.59 before crashing soon after its launch. Although initially promising, the token's value fell below $20 within weeks.
Controversy surrounds its fall, with 10x Research alleging "insider play" prior to the token's price drop. While most traders suffered substantial losses, early investors profited significantly.
Solana's ecosystem was heavily impacted as Solana-based tokens, including Raydium's RAY token, also faced severe declines. The waning interest in meme tokens affected platforms like Pump.fun, which saw a noticeable drop in activity.
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