Donald Trump's presidential memecoin was the best performing digital asset, rising 12% after a post by Trump 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% crash, and has faced political backlash from House Democrats.

House Democrats, led by Rep. Sam Liccardo, have introduced the MEME Act to prevent federal officials and their families from profiting off meme coins, while the SEC has stated that memecoins are not securities and thus not under its oversight.

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