Tokens named TRUMP and MELANIA, launched in the first quarter, have suffered dramatic price declines of 86% to 99%, according to Tokenomist data. The circulating supply of these tokens doubled over three months, exerting significant downward pressure on their prices. Other tokens, including Layer, GoPlus Security, and Plume, also faced steep declines due to aggressive issuance and weak liquidity. Analysts suggest that the price drops are linked to poor token design and increased supply rather than the underlying project quality.