Roger Stone, a close aide to Trump, previously denied any involvement of the former president or his son with the TrumpCoin memecoin.
As the broader crypto market experienced a downturn, a Solana-based memecoin using the former United States president Donald Trump’s name and image experienced a price meltdown.
On Aug. 6, TrumpCoin (DJT) dropped from $0.00555 per token to $0.000229 before briefly recovering. This represents a 95% decrease in the token’s price. At the time of writing, the price is hovering at around $0.000430 per token.
Data from token price tracker Birdeye also showed that amid its price drop, its volume soared by 35,501%, with 1,736% more traders in the last 24 hours. According to Birdeye, its total value locked (TVL) also hovers at $23.1 million.
