$TRUMP Trump’s Endorsement Sends Coin Soaring: A Wild Crypto Ride
Former President Donald Trump has publicly endorsed the $TRUMP token on Truth Social, calling it “so cool” and “the greatest of them all.” His support immediately triggered a 10% price surge, with CoinGecko data showing the token jumping from $10.9 to $12.
Launched before Trump’s inauguration, $TRUMP operates on the Solana blockchain with a total supply of 1 billion tokens. Of these, 200 million are publicly available, while the remaining 800 million are held by CIC Digital LLC, a Trump Organization affiliate, and Fight Fight Fight LLC. The token initially skyrocketed from under $10 to $75, reaching a market cap of over $15 billion and generating $29 billion in trading volume.
However, the journey has been anything but stable. The launch of the $MELANIA token on January 19 triggered sharp fluctuations, causing $TRUMP’s price to drop nearly 50% to the $30-$40 range. Despite the volatility, Trump’s endorsement continues to attract attention, with many viewing the token as a symbol of support rather than a traditional investment.
This rollercoaster ride highlights how celebrity influence can drive market sentiment, but it also underscores the unpredictable nature of crypto. With ongoing regulatory challenges and market swings, investors should proceed with caution.
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