Trump Confirms Memecoin $TRUMP, Calls it the "Greatest" of All, Coin Rises

U.S. President Trump, on Sunday, directly confirmed his official meme coin $TRUMP on Truth Social, calling it "the most amazing coin of all." "I LOVE $TRUMP — SO AMAZING!!! The greatest of them all!!!!!!!!!!!!!!!!!!," he wrote to his 9.3 million followers. His post immediately boosted the price of the token, although it quickly fell back after several hours. The meme coin $TRUMP based on Solana was launched on January 17 and peaked at over $14.5 billion in total market value on January 19, a day before President Trump's inauguration. The initial launch provides 200 million TRUMP tokens, with plans to expand the supply to 1 billion over three years. However, Trump's meme coin has also raised concerns about unmanaged global influence and risks for investors.

Posts about Meme Coin lead to a surge in trading volume, Meme Coin increases by 10% The post on Truth Social at 10:33 AM Eastern time quickly pushed the price of this meme coin to $12.17, according to data from coinmarketcap. Furthermore, the token price has recovered from the lowest point in 24 hours, which was $10.75, and is currently stabilizing around $11.60, with the potential to move to a resistance level of $12.51. The meme TRUMP has decreased to the current price of around $11.85 at the time of reporting. However, this increase is still 84% lower than the all-time high of 73.4 dollars at the time of launch in January. Furthermore, according to data from geckoterminal, the trading volume of the SOL-based meme coin has surged to its highest level since early March. Traders quickly took advantage of the rare direct promotional event by Trump for his official token $TRUMP. Trump 'Doesn't have much knowledge' about MEME Coins to become 'Too cool' In January, the president noted that he did not know much about his official meme currency. "I don’t know much about it other than that I launched it," Trump told reporters. "I hear it’s very successful. I haven’t checked." However, the short-term rise of this meme coin shows that the community is no longer interested in the Trump token. According to Andrew Rossow, a digital media lawyer and CEO of AR Media, these posts "unfortunately have set a dangerous precedent for exploiting public office for personal financial gain." In an interview, he told Decrypt that the president's endorsement of a financial product tied to his personal interests "undermines regulatory bodies like the SEC and CFTC, eroding trust in fair governance." In addition, in February, the Democratic Party in the House, led by Representative Sam Liccardo, proposed the MEME Act, prohibiting federal officials and their families from profiting from meme money. "The issuance of the Trump family's meme coin is an act of exploiting the public for personal gain, while also raising suspicions of insider trading and foreign influence on the executive branch," wrote Representative Liccardo in a blog.