#ILOVE$TRUMP The official meme coin of Donald Trump ($TRUMP) surged sharply by more than 10% to reach $12.25 after the former U.S. president posted a message on Truth Social endorsing the cryptocurrency, leading to a noticeable increase in trading volume and market cap.
According to data from crypto.news, the coin surpassed the $12 mark, reaching its peak at $12.25, before stabilizing at $11.94 at the time of this report, achieving gains exceeding 9% within 24 hours. Despite this rise, the coin is still experiencing a monthly decline of over 26.4%.
Trump's support has also positively reflected on the coin's market cap, 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 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 saying: “I love $TRUMP — so great!!! The best ever!!!!!!!!!!!!!!!!”, prompting investors to quickly engage with the coin.
It is worth mentioning that Truth Social is a social media platform owned by 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.