Crypto markets are in freefall on the back of US President Donald Trump’s “Liberation Day” tariff policy, and the TRUMP memecoin has taken a major hit as a result. The TRUMP coin, which peaked at a fully diluted valuation (FDV) of $75 billion, is down another 13% today to a $9 billion valuation. The token launched on Jan. 17 and skyrocketed to its peak valuation two days later, ahead of Trump's inauguration, and has been in a downtrend ever since. The token’s major drop on Jan.19 was catalyzed by the launch of Hayden Davis’ MELANIA token, which was promoted by the First Lady on social media. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
