The drop in the entire cryptocurrency market in the last 24 hours has sent the Trump-issued token "TRUMP" further down, falling by a staggering 75% from its peak. The token, which Trump issued just days before his swearing-in ceremony on January 20, is the first "meme coin" to be officially endorsed by a sitting US president. An analysis by CoinDesk showed that the token's market cap soared from zero to a peak of $14 billion in less than 48 hours of being live, even though most retail traders lost money on the generation. Trump previously continued to speak out in support of the token on his social media platforms, however, the market reaction was less enthusiastic than expected. As of Sunday morning local time, the price of the Trump token had fallen to a low of $19.09.