The price movement $TRUMP since its launch at the beginning of the year has been largely driven by events.
So far, the two most significant events that have driven the meme coin to new heights are Trump's presidential inauguration and his announcement of the party dinner. The price $TRUMP also collapsed after controversial announcements regarding his trade policies.
Julio Moreno, head of research at CryptoQuant, told BeInCrypto: "For example, the trading volume of the token rose to $530 million when the [winners] were announced on May 12. Prior to that, trading volume in late April rose to nearly $1 billion, driven this time by Trump's announcement to halt tariffs. Similarly, the price of $TRUMP recovered from $7.5 to $12.7 during this period."
Evidence suggests that despite the large speculative trading volume, the meme coin $TRUMP has generally resulted in more losses than gains for those participating.