The price of the "Trump" cryptocurrency, named after US President Donald Trump, fell by more than 14.5% on Thursday. According to exchange trading data, the memecoin's price has been declining for the second consecutive day following the US Congressional elections, sparking concerns in the market.
On Binance, the largest cryptocurrency exchange by trading volume, the value of the "Trump" memecoin had decreased by 14.56% over a 24-hour period to $1.26 as of 13:44 Moscow time, despite some activity recorded in previous days.
As a reminder, the price of the "Trump" memecoin also dropped by nearly 10% on Wednesday, highlighting the ongoing volatility in the digital asset market.
The cryptocurrency market is often highly sensitive to political events. Such sharp fluctuations following election results reflect growing investor anxiety.
