Excluding dollar-pegged stablecoins, nearly every major cryptocurrency ranked in the top 100 coins by market cap is up over the last day, per data from CoinGecko, with few exceptions—and one of them is President Donald Trump's official Solana meme coin, TRUMP.
While major coins like Bitcoin, Dogecoin, Solana, and XRP are showing gains over the last 24 hours following a volatile week amid Trump's own post-inauguration regulatory barrage, the commander in chief's official coin is still in the red.
TRUMP is down almost 4% over the last day at a current price of about $34, according to CoinGecko, and remains 54% off the all-time high mark above $73 set last weekend soon after the Solana token dropped.
Trump Executive Order Paves Way for Federal Crypto Reserve—But Doesn't Mention Bitcoin
President Donald Trump signed his first crypto-related executive order on Thursday, formally establishing a Presidential Working Group on Digital Asset Markets and laying the groundwork for exploring some of his campaign promises—including potentially establishing a national reserve for Bitcoin and other assets. The Presidential Working Group will advise Trump on matters related to crypto policy and inform his decision-making with regards to the industry. Trump previously announced that the grou...
His wife Melania's token, MELANIA, has risen nearly 3% on the day to a current price of $2.67. But it's a much smaller coin than TRUMP by market cap—about $400 million compared to TRUMP's $6.8 billion—and sits outside even the top 200 coins ranked by market cap.
TRUMP has been highly volatile during its week of existence, with demand ebbing and flowing, though its dip over the last day may also be tied in part to U.S. lawmakers—including crypto critic Senator Elizabeth Warren—urging regulators Thursday to scrutinize the president's meme coin.
Crypto-Critic Elizabeth Warren Urges Regulators to Probe Trump Meme Coins
In a letter sent to federal regulators on Wednesday, noted crypto-critic Senator Elizabeth Warren and Representative Jake Auchincloss called for an investigation into the Trump and Melania meme coins launched on the Solana blockchain a day before Donald Trump’s second inauguration. Warren and Auchincloss raised concerns about potential conflicts of interest, consumer risks, and national security implications of cryptos linked to Trump and First Lady Melania. “The Trump family-controlled Trump O...
Looking at the top of the pile, Bitcoin has retained much of its Thursday surge around growing national reserve momentum, up more than 3% in the day at a current price of $105,183. Dogecoin and XRP are both up about 4% on the day, with Ethereum rising nearly 6% and Solana jumping more than 8%.
Crypto liquidations have tallied $333 million over the past day, per data from CoinGlass, with Bitcoin positions leading the charge at about $115 million. Overall, the long and short positions aren't too far apart in the broader mix, with about $179 million in longs purged alongside $154 million in shorts.
