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TRUMP Token Skyrockets After President Donald Trump’s Endorsement

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TL;DR

  • The controversial token linked to the US president, which saw the light of day just ahead of his inauguration, has gone through some Sunday volatility after Trump’s latest interaction.
  • The asset rose by double-digits but then started to retrace minutes later, in what could be another volatile end of a weekend due to Trump.

 

Recall that the Official TRUMP token was released just a few days ahead of the January 20 inauguration of the 45th and the 47th US president. At the time, it skyrocketed in value, becoming at one point the second-biggest meme coin as it had neared the top 10 alts by market cap.

However, the introduction of MELANIA, alongside some of Trump’s controversial political decisions, brought TRUMP south hard. The overall market crash didn’t help either. In fact, the token dumped to as much as 90% away from its all-time high, marked on January 19.

The past hour or so have been a lot more positive, which could be attributed to the president himself. Trump took it to his own social media to declare his admiration and love for the meme coin.

Donald Trump on Truth Social
Donald Trump on Truth Social

TRUMP’s price reacted with an immediate uptick that pushed it north by over 10%. It rose from under $11 to just past $12.3 to reach a weekly high.

TRUMPUSD. Source: TradingView
TRUMPUSD. Source: TradingView

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