Trump’s Endorsement Sends TRUMP Token Soaring 12% Amid Political Controversy
A post from U.S. President Donald Trump on Truth Social ignited a rally in his namesake cryptocurrency, sending the TRUMP token up 12% on Monday during Asian trading hours, per CoinGecko data.
Trump referred to the token as “the greatest of them all” and “cool,” leading to a rapid price surge from $10.93 to $12.25 before settling at $11.91, still up 9% on the day. The rally made TRUMP the top-performing digital asset of the session, surpassing Ethena (8.9%), Bonk (8%), and Mantle (7%). Meanwhile, the broader CoinDesk 20 index posted a more modest 2% gain.
Since its January debut, the TRUMP token has experienced wild volatility, briefly reaching billions in market cap before crashing 75% amid wider market uncertainty. The token has also drawn political scrutiny, with House Democrats pushing the MEME Act—a bill aimed at barring federal officials and their families from profiting off meme coins.
Representative Sam Liccardo, who spearheaded the legislation, singled out the TRUMP token in a blog post, warning of potential insider trading and foreign influence risks. However, the SEC has clarified that meme coins, including TRUMP, do not fall under securities regulations, leaving them outside the agency’s oversight.
