TRUMP Memecoin Soars 25%, Market Cap Hits $8 Billion as Investors Bet on New Presidency
The TRUMP memecoin, launched by newly inaugurated President Donald Trump, has surged 25% over the past day, outperforming bitcoin (BTC) and other major cryptocurrencies. The token’s market cap now stands at $8 billion, reflecting a remarkable 900% increase since its debut.
At a press conference on Tuesday, Trump addressed the memecoin’s success for the first time. “I haven’t followed it closely, but I hear it’s doing well,” Trump remarked. When informed of its valuation, he said, “Several billion? That’s peanuts for the people in this room,” referring to prominent business leaders in attendance, including Masayoshi Son of SoftBank, Sam Altman of OpenAI, and Larry Ellison of Oracle.
The event also saw Trump unveil Stargate, a $500 billion initiative focused on building data centers in Texas and advancing AI infrastructure, highlighting his administration’s commitment to technological innovation.
TRUMP Token as a Cultural and Political Indicator
Market analysts see the TRUMP token as more than a financial instrument, with some interpreting its rise as a reflection of Trump’s political popularity and the public’s sentiment toward his administration.
“TRUMP coin could evolve into a barometer for public opinion on Trump’s presidency,” said Yat Siu, co-founder and executive chairman of Animoca Brands, in a statement to CoinDesk. “Memecoins like TRUMP often capture the cultural and political zeitgeist, acting as a live reflection of sentiment.”
However, Siu warned of potential risks. “If the initiative is seen as a cash grab without sustained engagement, it could damage trust in memecoins and the broader crypto market. How the TRUMP token is managed will set a precedent for crypto’s intersection with culture and politics.”
As the TRUMP token continues to make waves, its trajectory is being closely watched not just as a crypto asset but as a potential indicator of broader cultural and political dynamics in the evolving Web3 ecosystem.
