Donald Trump’s memecoin, TRUMP, momentarily fell about 30% after the former president commented that he was not closely tracking it.

The price dipped to $32 on some exchanges before rebounding to around $43. The token, launched shortly before Trump’s second inauguration, previously reached $76 and a $12 billion market cap but has been volatile.

During a media appearance, Trump acknowledged the project but asked for its valuation and then called the reported billions “peanuts” for his team behind him.

The Kobeissi Letter noted that an unnamed investor purchased $5 million worth of TRUMP at the crash’s low point and gained an estimated $2.4 million within minutes. The token is now near $41 with a market cap of $8.2 billion, while its fully diluted value stands around $41 billion.

Trump said,

“I don’t know where it is, I don’t know much about it other than I launched it. I heard it was very successful.”

Shut the fuck up with your clickbait news!

Here’s the full clip pic.twitter.com/GW3X46xWXD

— notEezzy (delulu) (@notEezzy) January 21, 2025

The post Donald Trump confirms memecoin launch, says billions in profits is ‘peanuts’ for his team appeared first on CryptoSlate.