Donald Trump Just Shilled His Own Memecoin to the World

These are truly interesting times we’re living in. The sitting president of the largest economic and military superpower just shilled a memecoin to the whole world.

Former US President Donald J. Trump took to his own social media platform to tout his namesake memecoin, TRUMP.

The coin rose 10% on Wednesday morning, having lost most of the gains.

What Happened: Trump's coin initially went up from $10.99 to as much as $12.24, but then fell back to $11.60 at the time of writing.

The coin is now down 85% from its all-time high (ATH) in January, when it traded for $75.35.

Trump now saying he loves his coin "SO COOL" and "The Greatest of them all", directly contrasts his comments in January when he said that he was only 'aware' of it but didn't really know much about it.

After the January launch, which also included a MELANIA memecoin launch, Rep. Sam Liccardo (D-California), proposed the MEME act to stop Trump and other senior politicians from issuing similar projects in the future.

While there has been some criticism about the launch, some have called it plainly "foolish".

Galaxy CEO Michael Novogratz said that, despite Trump being overall positive for the crypto sector, his memecoin launch felt "a little foolish".

Top Gainer, Loser: As the memecoin craze of recent times seems to have slowed down, not all projects are in the red. While traders might not care much about TRUMP, they happily bought up Solana memecoin Bonk (BONK).

The dog-themed coin went up 27% in the last week, rising from US$0.000010 to US$0.000013.

However, BONK is still down 77% from its ATH in 2024, when it sold for US$0.000059. CT analyst Globe of Crypto wrote that if Bonk can break out from the current falling wedge pattern, it could see up to 150% gains over the coming days.

Despite this, community sentiment on CoinMarketCap shows that a majority is worried about the path of Bonk, with 55% feeling bearish.