Donald Trump Gave a Message, the Altcoin He Supported Soared: Second Rally of the Day…
New US President Donald Trump openly expressed his support for an altcoin project in a post he made on the Truth Social platform. Trump's move created great movement in the crypto market, while the token price increased by 10% in a short time. Today, Binance founder CZ's messages triggered a similar rally…
Trump message revived the altcoin market
Trump described the $TRUMP token as "very cool" in his post on the Truth Social platform, stating that it was "the biggest of them all."
This sudden rise attracted great attention among Trump supporters and crypto investors. Especially considering the recent volatility in the meme coin market, tokens supported by such political figures can gain value quickly.
Origin of the #TRUMP token and market performance
TRUMP, which works on Solana, was launched during Trump's presidential campaign. The total supply of the token is 1 billion, 200 million of which were released to the public. The remaining 800 million tokens are held by Trump-affiliated companies CIC Digital LLC and Fight Fight Fight LLC.
The token rose from $ 10 to $ 75 in the first days of its launch, reaching a market value of $ 15 billion. In addition, its trading volume reached $ 29 billion within a few days of its launch. However, the token experienced sharp fluctuations in a short time.
With the launch of the #MELANIA token on January 19, TRUMP experienced a serious loss of value in its price. The token price fell by almost 50% to the $ 30-40 range. This situation once again showed how fierce the competition between memecoins in the market can be.
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