US President Donald Trump Endorses TRUMP Token, Sending the Price Up 10%

US President Donald Trump took a break from pending global issues to support the Official Trump (TRUMP) ticker, sparking a 10% rally after he mentioned it on Truth Social.

US President Donald Trump took a break from pending global issues to support the Official Trump (TRUMP) ticker, sparking a 10% rally after he mentioned it on Truth Social.

"My greatest of all time meme coin, which they say is named after me, went up $.80 to $9.80. Not bad. It’s called TRUMP. Sadly, they stole my name and put it on a coin, but people can't get enough of it and are having fun. I'm not sure what all the fuss is about, but they should make me a coin, and they'll really see traffic!" Trump stated.

After the mention, TRUMP rallied by more than 10%. The token reached a high of $12.25, later sliding to a lower range of $11.92. The 10% pump is small for a meme token or even an altcoin, suggesting Trump’s effect may be diminishing, or even affecting crypto negatively.

The direct mention of the ticker was seen as a form of market manipulation. Meme tokens, however, remain entirely unregulated and the social media effect on the price is not illegal.

The TRUMP rally arrived just as other meme tokens were making a recovery. TRUMP remains a less liquid asset, and does not copy the moves of community tokens or older memes like Pepe (PEPE).

Official Trump rally invites fast, risky trades

Following the mention of TRUMP, the token’s open interest also rallied, from $223M to $323M within hours. The rapid price movement led to $1.6M in short liquidations in the past 24 hours.

The short-term rally, however, was not enough to erase the slide that started on January 20. TRUMP was also among the reasons for the outflow of demand for memes, as the token showed signs of early sniping and caused deep losses for retail investors.

After the minor TRUMP pump, MELANIA stayed in its usual range at around $0.69.

The endorsement, just like the TRUMP launch, came on a Sunday, a relatively slow period even for crypto assets, as the official markets are closed.

One of the top TRUMP whale traders sold into the pump, adding to a realized profit of $31.8M. The whale is one of the most active meme traders, having bought and sold other hot trends in the past, with minimal remaining holdings.

Another whale bought TRUMP for 5M USDC but incurred $207K in losses after abandoning the position within an hour. The same whale previously made $108K from earlier TRUMP trades.

TRUMP is also heading into a period of token unlocks, where the vested team tokens will be released into circulation. The first upcoming unlock is on April 18, with a 10% cliff unlock and daily 0.12% unlocks into 2027. More cliff unlocks are expected in Q2 and Q3, which may test the market price of the token.

TRUMP created mass hype for being a meme token, but the token holding structure resembles that of insider projects or VC-backed tokens.