TLDR
- TRUMP token jumped 10-12% after President Trump called it “the greatest of them all” on Truth Social
- The token is currently trading around $11.85, down 84-85% from its January all-time high of $73-77
- Trading volume exceeded $1 billion following Trump’s endorsement, double the average of previous days
- House Democrats have introduced the MEME Act to prohibit federal officials from profiting from meme coins
- 40 million TRUMP tokens (4% of total supply, worth $472 million) will be unlocked starting April 18
Donald Trump’s official memecoin saw a price jump of 10-12% on Monday after the President posted about it on Truth Social. The token, which trades under the ticker TRUMP, responded immediately to Trump’s enthusiastic endorsement where he called it “the greatest of them all” and “so cool.”
Here we go again 🙈😂 pic.twitter.com/mJY43h9Zvh
— Trader Edge (@Pro_Trader_Edge) March 23, 2025
Market data shows that in the minutes after Trump’s post, the cryptocurrency rose from around $10.93 to approximately $12.25. After a brief sell-off, the TRUMP token stabilized around $11.85 at press time.
This performance made it the top-performing cryptocurrency during Asian trading hours on Monday. Other tokens showing strong performance included Ethena up 8.9%, Bonk up 8%, and Mantle up 7%.
The broader crypto market as measured by the CoinDesk 20 index rose about 2% during the same period. This shows TRUMP’s outperformance compared to the general market following the presidential endorsement.
The Solana-based TRUMP token has had a volatile history since its January 17 launch. It initially captured significant attention from the crypto community.
Just two days after launch, the token reached a peak market capitalization of approximately $15 billion. Its price hit an all-time high between $73-77 during this initial excitement.
Since then, the token has experienced a steep decline. Despite Monday’s rally, TRUMP remains down 84-85% from its all-time high.
The token’s trading volume spiked to the highest levels since early March following Trump’s endorsement. According to market data, daily volume surpassed $1 billion.
This represents double the average trading volume of previous days. The surge in activity shows how presidential comments can still move the market for this token.
Trump’s relationship with his namesake token has evolved over time. In January, the President noted that he didn’t have much knowledge about his official meme coin.
“I don’t know much about it other than I launched it,” Trump told reporters at the time. “I heard it was very successful. I haven’t checked.”
His recent post marks a shift to more direct promotion of the token. This change in tone comes as the token faces continued price pressure.
Criticism
The presidential meme coin has also drawn political criticism. House Democrats, led by Rep. Sam Liccardo, have introduced legislation called the MEME Act.
This proposed law aims to prohibit federal officials and their families from profiting from meme coins. Rep. Liccardo specifically cited the TRUMP token in a blog post.
He accused the First Family of “exploiting the public through meme coins” and warned of potential insider trading and foreign influence via the token. The prohibition would extend broadly to other financial assets including Truth Social stock.
The Securities and Exchange Commission has stated that memecoins like the TRUMP token are not securities. This means they are not subject to SEC oversight under current regulations.
Investors are now watching the upcoming token unlock scheduled for April 18. According to Cryptorank data, 40 million TRUMP tokens will be unlocked at that time.
This represents 4% of the total supply and is valued at over $472 million. The unlock could potentially increase selling pressure on the token.
After the initial unlock, at least half a million TRUMP tokens will enter circulation daily. This process will continue until the end of 2027 according to the project’s release schedule.
Some investors have expressed concern about this upcoming unlock. “Trump is shilling TRUMP coin on Truth Social… Seems like they are grabbing some exit liquidity before the unlock,” commented investor HENRI.SOL.
A report from Chainalysis revealed that 94% of TRUMP and MELANIA tokens are controlled by just 40 wallets. This highlights a highly concentrated distribution among large holders, often called “whales” in crypto terminology.
