The TRUMP memecoin dropped 5% on Wednesday after Trump Mobile confirmed that its long-delayed T1 smartphone will begin shipping next week. The token, officially tied to U.S. President Donald Trump, had already lost nearly 90% of its value from its all-time high before the latest decline, according to CoinDesk market data.
Trump Mobile’s announcement ended months of delays and mounting buyer frustration. The company tweeted that pre-order customers would receive an update email and that "phones start shipping this week." However, the market reacted negatively, with the token sliding immediately after the news broke.
The T1 handset itself is raising questions. Trump Mobile operates as a Mobile Virtual Network Operator and does not manufacture its own hardware. Instead, it partnered with an external firm to rebrand an existing device. A unit obtained by The Verge last month "sure looks a lot like an HTC U24," a phone launched in 2024. Neither HTC nor Trump Mobile has officially confirmed the connection. The company stated that final assembly occurs in the United States, while components come from overseas—a common arrangement in the phone industry, similar to Solana’s rebranded Saga device.
For pre-order holders, next week marks the first time the T1 moves from a reservation to a physical product. Trump Mobile has not disclosed updated sales numbers or how many units will go out in the initial batch. The token’s prolonged slide suggests investors are not interpreting the hardware launch as a positive catalyst.
