Tech

TRUMP Token Down 75% from Peak as Airdrop Program Launches

6 days ago
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TLDR

  • Trump’s official TRUMP token is offering an airdrop worth approximately $50 (three tokens) to previous buyers of Trump-branded merchandise, with claims closing March 1, 2025.
  • The TRUMP token reached an all-time high of $75 and a $13 billion market cap, but has since fallen 75% from its peak.
  • The token was launched just before Trump took office, making it the first memecoin associated with a sitting U.S. president.
  • U.S. Representative Ayanna Pressley has criticized Trump and Musk for allegedly weakening consumer protections in crypto.
  • Critics have called it “one of the stingiest airdrops in crypto history,” particularly given the high prices supporters paid for Trump merchandise.

The team behind Donald Trump’s official cryptocurrency, TRUMP token, has announced an airdrop program offering three free tokens to previous buyers of Trump-branded merchandise. The distribution, worth approximately $50 at current prices, comes as the token faces a 75% 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 as the first cryptocurrency associated with a sitting U.S. president when it launched just before Trump took office on January 20. From its initial price of a few dollars, the token surged to $75 at its peak, reaching a market capitalization of $13 billion.

Recent market data shows TRUMP has experienced an 8% decline in the past 24 hours, following broader cryptocurrency market trends. The token’s price movements have drawn attention from both supporters and critics within the crypto community.

TRUMP Price on CoinGecko
TRUMP Price on CoinGecko

Trump-affiliated merchandise has historically commanded premium prices in the market. The Bitcoin Sneakers, a limited edition release from July, originally sold for $500 per pair. Some of these sneakers later appeared on resale markets with prices as high as $2,500.

The Stingiest Airdrop

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. Pressley criticized both Trump and Elon Musk, claiming their actions have made the cryptocurrency space more vulnerable to scams.

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. Some market observers speculate that the distribution might be an attempt to maintain interest in the project during a downturn.

To claim the airdrop, eligible participants must use the same email address associated with their previous Trump merchandise purchases. Each qualifying email address can receive three TRUMP tokens.

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 of political branding and cryptocurrency technology. As the first memecoin linked to a U.S. president, TRUMP token has created a precedent in the digital asset space.

Questions about the token’s distribution and value retention have emerged as more tokens enter circulation through the airdrop program. The impact of increased token supply on market dynamics remains a topic of discussion among traders.

The airdrop’s March 1 deadline creates a time-sensitive opportunity for eligible supporters to claim their tokens. The program’s requirements and limitations have been clearly outlined by the project team.

The current price of TRUMP stands at $16.52, representing a 6.54% decrease in recent trading. Trading volume and market activity continue to fluctuate as the airdrop program progresses.

Source: https://blockonomi.com/trump-token-down-75-from-peak-as-airdrop-program-launches/