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Donal Trump meme token TRUMP fell nearly 20% to around $2.50 ahead of Donald Trump’s exclusive Mar-a-Lago crypto conference, wiping out about $161 million in market value. The token is now down around 96.5% from its all-time high.
The TRUMP token fell from $3 to below $2.50, a sharp 20% decline just hours before the Mar-a-Lago crypto conference. The event was promoted as a high-level gathering limited to the top 297 holders, with the top 29 receiving direct access to Trump.
One factor cited for the move is the “sell the news” pattern, where investors sell into an approaching event to lock in profits rather than hold through uncertainty.
After the drop, trading activity increased sharply. Volume rose 111% to $618 million over 24 hours, suggesting the move was driven by heavy selling rather than random price fluctuations.
Hours after the token’s decline, Trump was evacuated from the White House Correspondents’ Dinner after a gunman opened fire outside the venue.
Reports said a gunman attempted to breach a security checkpoint while carrying multiple weapons. Security forces responded quickly and moved Trump to safety.
JD Vance, Kash Patel, Robert F. Kennedy Jr., and Melania Trump were also evacuated without harm. The incident added to broader uncertainty, which may have weighed on sentiment around the TRUMP token.
The token is now down 96.5% from its all-time high of $75.35 reached in January 2025. Since launching around Trump’s second inauguration, it has wiped out approximately $18.1 billion in total market value.
Technically, the token broke below the $2.85 support level on high volume. That breakdown points to $2.48 as the next meaningful support, with $2.10 if that level fails.
A recovery back above $2.80 on real buying volume would be needed to neutralize the current downtrend, and potentially set up a retest of $3.00.
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