Former President Donald Trump sent crypto markets into a frenzy Sunday morning with a rare direct endorsement of the $TRUMP memecoin.
“SO COOL” and “The Greatest of them all,” Trump declared on Truth Social, triggering an immediate 11% price spike that added $100 million to the token’s market cap.
Presidential endorsement sends $TRUMP token soaring, proving a single social media post can move millions in crypto markets.
The endorsement marks a significant shift for Trump. He’s gone from claiming limited knowledge about the token to full-on cheerleader. Not subtle at all. The price jumped from $10.91 to $12.11 before settling around $11.85 after some investors cashed out.
Trading volume went absolutely bonkers. Daily volume topped $1 billion after the endorsement, doubling the average from previous days. A 383% surge in 24-hour trading. Crypto traders clearly couldn’t resist the presidential pump.
Still, some perspective here. The token remains down a whopping 84-85% from its January all-time high of $73-$77. So much for “winning.”
The Solana-based memecoin, currently ranked #41 on CoinMarketCap with a $2.21 billion market cap, has been on a wild ride since launching in January 2025. It hit a $15 billion market cap within two days of its debut. Talk about hype.
Meanwhile, House Democrats aren’t amused. They’ve introduced the MEME Act to prohibit federal officials from profiting off memecoins. Fair question: should a sitting president pump tokens his affiliates hold 800 million of?
The token’s future remains uncertain, with 40 million TRUMP tokens (worth approximately $472 million) scheduled for release on April 18. World Liberty Financial plans to release billions more tokens over the next three years.
Melania’s memecoin actually dropped 4.8% following Trump’s post. Guess there’s only room for one Trump in the crypto spotlight.
Love him or hate him, Trump’s tweet proves one thing: in crypto, presidential attention means dollar signs. At least for a day.
TRM Labs continues to monitor $TRUMP token transactions to detect any suspicious trading patterns that might indicate market manipulation.
Social media users were quick to criticize the promotion with some directly accusing Trump of operating a pump and dump scheme with the cryptocurrency.
The token’s volatility reminds many investors of other memecoins like Shiba Inu, which reached an all-time high of $0.000084 in October 2021 before experiencing significant price corrections.
