#ILOVE$TRUMP The official meme coin of Donald Trump ($TRUMP) surged sharply by 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 high of $12.25 before stabilizing at $11.94 at the time of report preparation, achieving gains of over 9% within 24 hours. Despite this rise, the currency is still suffering from a monthly decline of over 26.4%.
Trump's support has also positively reflected on the market value of the currency, 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 experienced a massive leap of 375.1%, indicating a surge in 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 awesome!!! The greatest of all time!!!!!!!!!!!!!!!!”, prompting investors to quickly engage with the currency.
It is worth noting that Truth Social is a social media platform affiliated with the Trump Media & Technology Group, which Trump relies on to express his opinions and publish his statements away from traditional platforms, giving his posts a direct impact on digital markets.