The new Solana-based meme coin launched by President Donald Trump earlier this month has already dipped in terms of trading volume and racked up more than $11 million in fees for traders. In the last 24 hours,

TRUMP's price and trading volume have both fallen dramatically, but President Trump's Solana meme coin still has ardent backers.

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.

President Donald Trump’s inaugural committee received millions of dollars in donations from firms in the cryptocurrency industry that’s already seeing special attention from his administration, new disclosures show.