President Trump’s meme coin went on a bumpy ride over — before steadying Tuesday after the Securities and Exchange Commission announced it would launch a “crypto task force.”

The president’s $TRUMP meme coin sank to around $30 Monday night after the president failed to discuss digital assets on his first day in office, including his campaign pledge to create a national Bitcoin reserve.

The drop followed a peak of around $70 on Sunday.

But his token bounced back to reach $44 by 4 p.m. Tuesday after SEC acting Chair Mark Uyeda unveiled a new team tasked with “developing a comprehensive and clear regulatory framework for crypto assets.”