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$TRUMP token plunged 21.5%, erasing nearly $161 million from its market cap over the past 24 hours.
The drop followed investor selling ahead of Trump’s Crypto Conference a classic “sell the rumor” reaction.
But that wasn’t the only catalyst.
Over the past three weeks, the Trump team has transferred $46 million worth of tokens to exchanges.
At this point, TRUMP is down 96.5% from its all-time high, wiping out roughly $18.1 billion in market value.