President Donald Trump sought to revive interest in his $TRUMP meme coin Friday night, but the new digital coin continued to tumble.
The $TRUMP meme coin launched on Jan. 17, just ahead of Trump's second inauguration. It hit a record $75.35 on Jan. 19 but quickly fell back, with a steady decline over the past couple of weeks.
On Friday night, Trump posted on his Truth Social account, "I LOVE $TRUMP." But the $TRUMP price, which was around $24 at the time, has continued to plunge. It's around $18 Monday morning.
The fully diluted value of $TRUMP is still roughly $18 billion. The $TRUMP website says 80% of the meme coin is held by Trump Organization affiliate CIC Digital, and a CIC co-owned entity called Fight Fight Fight. So $TRUMP, at least on paper, may still account for the majority of President Trump's wealth.
Meanwhile, the $MELANIA meme coin from first lady Melania Trump is trading around $1.45. The $MELANIA coin launched on Sunday, Jan. 19 and briefly spiked to $13.63. But the digital asset quickly fell below $4 and has continued to slide.
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