#ILOVE$TRUMPThe official meme currency of Donald Trump ($TRUMP) recorded a sharp increase of over 10% to reach $12.25, following the former U.S. president's post on Truth Social endorsing the digital currency, leading to a noticeable recovery in trading volume and market value.
According to data from crypto.news, the currency surpassed the $12 mark, reaching a peak of $12.25 before stabilizing at $11.94 at the time of the report, achieving gains of over 9% in 24 hours. Despite this rise, the currency still suffers from a monthly decline of more than 26.4%.
Trump's support positively reflected on the currency's market value, which rose by 8.3% over the past day to reach $2.37 billion, after a period of stagnation. At the same time, daily trading volumes saw a massive jump of 375.1%, indicating rising investor interest following the former president's surprising post.
Trump had posted on the Truth Social platform, which he founded in 2022, an exciting comment where he said: “I love $TRUMP — so great!!! The greatest of all time!!!!!!!!!!!!!!!!”, prompting investors to quickly engage with the currency.
It is noteworthy that Truth Social is a social media platform owned by Trump Media & Technology Group, which Trump relies on to express his views and publish statements away from traditional platforms, giving his posts a direct impact on digital markets.