On the first anniversary of the President's token launch, TRUMP falls from the myth of reaching $20 billions in just 8 hours to losing over 90% of its market value.

BlockBeats News, January 18 — At 10:00 AM (UTC+8) on this day last year, Trump announced the launch of his personal meme coin TRUMP on Truth Social. The coin debuted with a market cap of $1 billion, igniting the crypto market and sparking debate within the community over whether Trump’s account had been hacked. Within half an hour, TRUMP’s market cap was pushed up to $1.5 billion, with trading volume reaching $123 million in just 30 minutes. At 10:38 AM (UTC+8), TRUMP experienced a sharp short-term drop of over 50%, with its market cap briefly touching $1.3 billion.

At 10:44 AM (UTC+8), the market saw a turning point as Trump used his X account to repeatedly post tweets about the "official launch of the meme coin TRUMP," dispelling the community’s concerns about a possible account hack. TRUMP’s market cap then surged, and at 11:22 AM (UTC+8), it was listed on Moonshot, with FDV simultaneously breaking through $4 billion. At 11:29 AM (UTC+8), TRUMP’s FDV surpassed $5 billion; at 1:07 PM (UTC+8), three hours after launch, FDV broke $10 billion; at 1:59 PM (UTC+8), four hours after launch, FDV quickly reached $13 billion; and at 2:13 PM (UTC+8), FDV surpassed $16 billion. Due to the market frenzy, a certain exchange announced the suspension of SOL withdrawals.

By 6:11 PM (UTC+8), TRUMP achieved the milestone of reaching $20 billion FDV in just eight hours, ranking fourth among meme coins by market cap, behind only DOGE, SHIB, and PEPE. The next day, TRUMP reached its all-time high price of about $77, corresponding to a fully diluted market cap of $77 billion, with a circulating market cap of about $15.4 billion that day. Today, TRUMP is trading at $5.3, with a market cap of only $2.45 billion, a fully diluted market cap of $5.3 billion, and its total market cap has dropped more than 90% from its peak.

Trump’s decision to issue a personal meme token on the eve of his inauguration marks the deep involvement of political figures in the crypto space. While the "president issuing a coin" brought unprecedented mainstream attention to the market, it also triggered the biggest conflict of interest and moral condemnation the market has seen to date. Behind the thrilling stories of overnight riches, millions of retail investors paid the price as the hype faded. Is the crypto market truly ruled by hype, or should it adhere to the vision of decentralization and the goal of disrupting traditional finance? What exactly has Trump changed, and what new value conflicts and reflections has he brought to the crypto space?