Trump Token Plummets 75% Despite Airdrop Boost

The TRUMP token, associated with former U.S. President Donald Trump, has experienced a significant decline of 75% from its peak, despite the launch of an airdrop program aimed at boosting its value. The token, which was launched just before Trump took office, is the first memecoin linked to a sitting U.S. president.

The airdrop program, announced by the team behind the TRUMP token, offers three free tokens to previous buyers of Trump-branded merchandise. The distribution, worth approximately $50 at current prices, comes as the token faces a substantial decline from its all-time high. Eligible participants include customers who have purchased Trump-branded items such as perfumes, sneakers, trading cards, or watches. The airdrop has a strict deadline of March 1, 2025, after which unclaimed tokens will no longer be available.

The TRUMP token made history when it launched just before Trump took office on January 20, 2017. From its initial price of a few dollars, the token surged to $75 at its peak, reaching a market capitalization of $13 billion. However, recent market data shows that the token has experienced an 8% decline in the past 24 hours, following broader cryptocurrency market trends.

The airdrop program has faced criticism from various quarters. Crypto analyst Simon labeled it "one of the stingiest airdrops in crypto history," pointing out that supporters who spent thousands on Trump's NFTs are receiving only $50 worth of tokens in return. Adding to the controversy, U.S. Representative Ayanna Pressley has voiced concerns about the token's impact on consumer protection, criticizing both Trump and Elon Musk for allegedly weakening consumer protections in the crypto space.

The distribution method has also raised eyebrows within the crypto community. While merchandise buyers qualify for the airdrop, individuals who purchased TRUMP tokens on the open market are not eligible for the program. The airdrop's timing coincides with recent price declines in the token's value, leading some market observers to speculate that the distribution might be an attempt to maintain interest in the project during a downturn.

The token's market performance continues to attract scrutiny from investors and analysts. The recent 8% price decline mirrors similar movements in the broader cryptocurrency market, suggesting external factors may be influencing its value. The project represents an intersection