Key Takeaways
- TRUMP coin suffers backlash from U.S. senators over possible “pay-to-play” corruptible act.
- Democratic Senators initiate investigations into President Donald Trump’s cryptocurrency moves.
- TRUMP coin backlash could affect the price negatively, following the market cap crash from $15B to $ 2.1 B.
Since its launch in January 2025, the TRUMP coin launched just be the Inaugural ceremony of U.S. President Donald Trump has come under a lot of criticism and had gained much criticism in recent time as holders of these Solana-based memecoin would have opportunity to dine and tour the U.S. White House generating scrutiny and political concerns regarding monetizing political access.
Before now, Senator Cynthia Lummis has shown uneasiness regarding the launch of TRUMP memecoin and Donald Trump’s backing of such digital assets despite applauding Trump‘s pro-Bitcoin administration. Still, she has questioned if it’s right for the U.S. President to back digital assets and White House access for crypto Holdings.
These uncertainties and doubts have led to Democratic Senators staging investigations into Trump’s crypto move, particularly TRUMP coin, World Liberty Finance (WLF), and other memecoins that have emerged following the rise of TRUMP coin in the last few months.
Recently, on May 6, Senator Chris Murphy introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act, focused on limiting or putting to a stop active participation of top personalities like presidents, vice presidents, members of Congress, and their families from issuing, endorsing, or sponsoring financial assets like cryptocurrencies.
Murphy has quoted TRUMP coin as an act of corruption by a President, with the likes of Senator Elizabeth Warren and Senator Adam Schiff, who have also pushed for probes, requesting the SEC and Office of Government Ethics to preserve records and investigate potential conflicts of interest, citing this act as “pay-to-play” corruption.
These recent criticisms have gained much fuel following World Liberty Finance deal in connection with Binanc,e amounting to $2B has been question seriously as many crypto experts and analysts are beginning to speculate if this could hurt the current price of TRUMP coin following its price crash from $77 towards a region of $8.
TRUMP Coin Price Prediction Ahead Of Backlash
Source – TRUMP Coin Price Chart From Coinmarketcap
The price of TRUMP coin, despite backlash from government officials, has suffered a significant decline in the past three months from its high of $77, following much speculation of a possible $100 memecoin just a few days after launch on the Solana network, generating over $15 billion in market caps and launching on major exchanges.
TRUMP coin has seen its market cap depleted from a high of over $15B to a region of $2.15B, leading to much questioning and scrutiny by many senators of a possible corruption scandal. While the price of TRUMP coin has suffered such a price crash, other memecoins have had their fair share of such a crash, raising an issue of memecoin regulatory acts, as these tokens are created as a pump-and-dump scheme.
Crypto experts and analysts are optimistic that TRUMP coin will defy the odds. Many expectations suggest that TRUMP coin could trade above $100 before the end of 2025, generating quite a buzz in the space.
Suppose the price of TRUMP coin resumes its bullish price action. In that case, the price needs to break above $30 with strong volume, as the price could see a potential rally above its previous highs. However, the current price action remains bearish under price accumulation.
