PANews reported on February 3rd that according to Jinshi, in the past 24 hours, the decline of the entire cryptocurrency market has caused Trump's token "TRUMP" to fall further, falling by a staggering 75% from its peak. Trump issued the token a few days before his swearing-in ceremony on January 20, and it is the first "meme coin" officially recognized by the sitting US president. An analysis by CoinDesk shows that in less than 48 hours after going online, the market value of the token soared from zero to a peak of US$14 billion, although most retail traders lost money on this token. Trump has continued to voice support for the token on his social media platform, however, the market response was not as enthusiastic as expected. As of Sunday morning local time, the price of the Trump Token had fallen to a low of $19.09.