Donald Trump’s Memecoin Drops Over 25% Despite World’s ‘MOST EXCLUSIVE INVITATION’

Official Trump ($TRUMP) surged to new multi-week highs on April 24, only to sharply retrace gains within hours, despite an unprecedented promotional event from the former U.S. President himself.

TRUMP Suffers Massive Profit-Taking Declines

On April 23, TRUMP jumped as high as $16.17 after Donald Trump announced a gala dinner for the top 220 holders of his namesake cryptocurrency.

The event, branded “the most exclusive dinner in the world,” is scheduled for May 22 at the Trump National Golf Club in Washington, D.C. Enthusiasts rushed in, sending $TRUMP skyrocketing by over 75% in intraday trading.

However, the rally quickly lost steam.

By April 24, the token had dropped to as low as $11.70—a 27% decline from the dinner announcement peak.

Is TRUMP Price Rally Over?

Technically, TRUMP’s upside faced rejection around $16.83, which coincides with the 0.236 Fibonacci retracement level calculated from the $71.31 top to the $7.52 bottom.

Immediate support now lies near the $11.12 level—home to the 50-day EMA. A breakdown below this could expose the token to a drop toward psychological support levels at $10 and $9. Worst case: the TRUMP price drops toward its record low of $7.14.

The Relative Strength Index (RSI) soared to 66.02—its highest since January—signaling a near-overbought condition and potential cooling ahead.

‘Donald Trump is Scamming People’

TRUMP’s sudden pullback reflects broader concerns about the sustainability of hype-driven rallies in memecoins, especially those closely tied to political figures and speculative narratives.

A viral social media post from analyst @MenchOsint accused Trump of “scamming American citizens” by promoting a coin that has lost over 90% of its value since launch.

“Trump is back at scamming the American citizens again,” MenchOsint wrote on X, adding:

“He is promoting the $Trump meme coin that he endorsed 2 months ago, a coin that has lost 90% of its value since. This guy belongs in jail.”

Although Trump has not confirmed direct ownership of the memecoin, his public association and endorsement have given the token significant visibility. Critics argue that such promotional efforts—particularly from a sitting U.S. president—blur the lines between personal financial interests and public influence.

The White House has responded to conflict-of-interest concerns by stating that President Trump’s children manage his financial assets independently.