TRUMP Token Surges 12% Following President’s Praise
Donald Trump’s endorsement on Truth Social boosts the presidential meme coin’s value significantly.
- Donald Trump’s presidential memecoin was the top performing digital asset, rising 12% after a Truth Social post from Trump, and is currently trading at $11.91.
- This token has seen considerable volatility since its January debut, including a 75% decline, and has faced criticism from House Democrats.
- Led by Rep. Sam Liccardo, House Democrats introduced the MEME Act aimed at preventing federal officials and their families from benefiting financially from meme coins, noting that the SEC has ruled that memecoins do not qualify as securities.
During Asian trading hours on Monday, the TRUMP token became the best performing cryptocurrency, with a notable rise in value following President Trump’s declaration of the TRUMP token as “the greatest of them all.”
Donald Trump speaking at the White House crypto summit.
Market statistics indicate that immediately after Trump’s announcement, the token surged from roughly $10.93 to $12.25, marking a 12% increase. Notably, after a brief sell-off, the token’s value stabilized around $11.91, which reflects a 9% rise overall.
According to CoinGecko data, this surge made the TRUMP token the standout digital currency during the Asian market session. Other notable tokens, such as Ethena, Bonk, and Mantle, have also seen gains ranging between 7% and 9%.
Since its inception, the TRUMP token’s journey has been marked by dramatic fluctuations, initially peaking at a multi-billion dollar market cap with President Trump’s endorsements before collapsing by 75% amid wider market instability.
The MEME Act aims to curb federal personnel’s engagement with such meme coins, while the SEC maintains that they are not securities and thus outside of their regulatory reach.
