Remember last Sunday? Crypto markets were buzzing! President Trump’s announcement about a “crypto reserve,” envisioned as a formal digital asset stockpile via executive order, sent prices soaring. But after a rollercoaster week, it appears much of that excitement has faded, and many top cryptocurrencies have not only surrendered their gains, but actually dipped below their pre-pump levels.

Leading the pack of decliners in the top 10 (by market cap) is Dogecoin. According to CoinGecko data, Dogecoin has taken a nearly 8% hit in the last 24 hours, sliding to $0.18. Interestingly, this is Dogecoin’s lowest point since early November, back when it was riding high on the wave of enthusiasm following Trump’s election victory.

It’s been a generally rough patch for meme coins recently. We’ve seen Trump’s own TRUMP token on Solana plummet after its initial January surge, and the LIBRA coin, backed by Argentine President Javier Milei in February, stirred up quite a bit of drama and controversy.

Zooming out a bit, DOGE’s struggles are even clearer: it’s nosedived by a hefty 30% over the past month.

And it’s not just Dogecoin feeling the heat. Almost every other top 10 cryptocurrency, excluding stablecoins pegged to the dollar, is also in the red. Bitcoin, for example, has dropped almost 4% to around $83,250 – practically erasing all gains from the Trump-fueled surge last Sunday. Ethereum is mirroring Bitcoin’s dip, also down nearly 4%.

Looking at other coins Trump name-dropped, XRP has slipped over 7% to $2.18, now sitting just below its price point before last Sunday’s announcement. Solana, another coin mentioned, is down 3% today at $133 – also falling below its pre-Sunday pump levels.

Cardano (ADA), the remaining altcoin from Trump’s shout-out list, has shown a bit more resilience in hanging onto some gains. However, it’s still feeling the downward pressure, dropping nearly 7% in the last 24 hours to $0.765. Despite the daily dip, ADA is still riding 17% higher for the week, thanks to the massive surge it experienced after Trump’s Sunday Truth Social mention.

Looking at the bigger picture, the volatility has triggered significant liquidations in the futures market. Data from CoinGlass reveals that around $276 million in crypto futures positions have been wiped out in the past 24 hours, with long positions taking the brunt of it.