#ILOVE$TRUMP

What you need to know:

Donald Trump's presidential meme coin has become the most profitable digital asset, increasing by 12% after Trump's post on Truth Social, and is currently trading at $11.91.

The $TRUMP token has experienced significant volatility since its debut in January, including a 75% drop, and has faced political backlash from Democrats in the House of Representatives.

House Democrats led by Rep. Sam Liccardo introduced the Meme Act to prevent federal officials and their families from profiting from meme coins, while the Securities and Exchange Commission (SEC) stated that meme coins are not securities and thus are not under its jurisdiction.

Donald Trump's official meme coin became the most profitable digital asset on Monday during Asian trading, according to CoinGecko, after the U.S. President posted on Truth Social, calling TRUMP “the greatest of all” and “cool.”

Market data shows that within minutes after Trump made the post, his eponymous cryptocurrency rose from around $10.93 to about $12.25, increasing by 12%.