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- Trump’s public endorsement of the $TRUMP memecoin triggered a $300 million surge, briefly pushing it above $12.25.
- Despite the hype, the token remains down 84% from its January peak, highlighting volatility and fading investor excitement.
A digital token tied to Donald Trump, named the Official Trump (TRUMP) memecoin, erupted in popularity this weekend after the U.S. President himself jumped in with a loud online cheer. On March 23, Trump posted on his Truth Social account, calling the coin “so cool” and declaring:
I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!!
The impact was immediate. As soon as the message went live, the coin’s price surged past $12.25, dragging its market cap up by around $300 million within hours. But just as fast, the hype cooled, and the token slipped back slightly to $11.67, 3.80% down on the day.
This wasn’t just any tweet or social media tease. It was a rare and direct nod from a sitting U.S. President to a cryptocurrency, and it managed to light a fire under the asset. At its peak trading point, the Trump token became the eighth most traded cryptocurrency within a 24-hour span, pulling in $1.5 billion in volume.
Market Madness and Memecoin Mania
The $TRUMP token isn’t new to the spotlight. It was launched just before Trump’s presidential swearing-in and built on the Solana blockchain, a network chosen for fast speeds and cheap transaction costs. Out of a total supply of 1 billion tokens, only 200 million have been released to the public.
The rest—800 million—are held by CIC Digital LLC and Fight Fight Fight LLC, both linked to the Trump Organization and are scheduled to be unlocked gradually over the next three years.
When it first launched, TRUMP rocketed from below $10 to over $70 in days, briefly crossing a market cap of $15 billion. But since then, things have cooled. The token is currently down 84% from its January peak of $73.43, thanks to a broader market correction that hit many digital assets.
The hype around TRUMP hasn’t come without critics. Some U.S. politicians have voiced concerns, but the Securities and Exchange Commission has made it clear: meme coins like this one don’t fall under their jurisdiction since they’re not considered securities.
The Power of Influence — And Its Limits
While the buzz around the President’s post may fade, some believe the TRUMP token has more fuel left in the tank. One market analyst suggested that the coin is “forming a base” and could be the only memecoin worth watching right now. They believe that if the price breaks the $12 resistance level and bullish sentiment holds, it could rise by as much as 10 times in the coming weeks.
Even with such optimism, not everyone is convinced. The sharp fall from the token’s all-time high reveals that the crowd might be less thrilled than it once was. And if major holders decide to cash in during the current rally, the resulting wave of selling could shake up the market again.
This memecoin push also fits into a broader picture. Trump has previously expressed plans to make the U.S. a “Bitcoin superpower” and hinted at building a strategic Bitcoin reserve—something crypto fans have taken as a sign of serious digital asset adoption.
