President Donald Trump's Official Meme Coin Surged in Value Following His Enthusiastic Endorsement on Truth Social

The price movement came after Trump posted “I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!” to his 9.3 million followers on the platform.

President Donald Trump's official meme coin surged in value following his enthusiastic endorsement on Truth Social. The price movement came after Trump posted "I LOVE $TRUMP -- SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!!" to his 9.3 million followers on the platform.

The Solana-based token saw immediate market reaction. Within minutes of Trump's post, the cryptocurrency's price jumped from around $10.93 to approximately $12.25, registering a 12% increase. After a brief sell-off, the token settled at around $11.91.

This performance made it the top-performing digital asset during Asian trading hours on Monday. For comparison, other cryptocurrencies like Ethena rose 8.9%, Bonk increased 8%, and Mantle gained 7%. The broader crypto market, measured by the CoinDesk 20 index, was up about 2%.

The Rocky History of Trump’s Meme Coin

The $TRUMP token has experienced extreme price swings since its January launch. The meme coin initially soared to over $14.5 billion in market value by January 19, just before Trump's inauguration. However, it later crashed by 75% amid broader market turmoil.

The token remains down 84% from its all-time high of $73.4 recorded at the time of its launch. Despite this decline, trading volume spiked to the highest levels since early March following Trump's endorsement. Traders rushed to capitalize on the rare direct promotion by the President.

When the token first launched, Trump himself admitted limited knowledge about it. "I don't know much about it other than I launched it," Trump told reporters in January. "I heard it was very successful. I haven't checked."

The initial token distribution included 200 million TRUMP tokens. There was a stated plan to expand the supply to 1 billion over three years. The token operates on the Solana blockchain.

Political Backlash and Regulatory Questions

The presidential meme coin has drawn criticism from House Democrats. Led by Representative Sam Liccardo, they introduced the MEME Act, which aims to prohibit federal officials and their families from profiting from meme coins.

In a blog post, Rep. Liccardo specifically targeted the $TRUMP token. He accused the First Family of "exploiting the public through meme coins for personal gain." The congressman also raised concerns about potential insider trading and foreign influence via the token.

The proposed MEME Act would extend broadly to other financial assets. This includes securities like Truth Social stock, according to Liccardo's statements.

Some legal experts have expressed concerns about the precedent. Andrew Rossow, digital media attorney and CEO of AR Media, told Decrypt that these posts "unfortunately set a dangerous precedent for leveraging public office for personal financial gain."

Rossow added that the president's endorsement of a financial product tied to his personal benefits "undermines regulatory agencies such as the SEC and CFTC, eroding trust in impartial governance."

On the regulatory front, the Securities and Exchange Commission has stated that meme coins, including the TRUMP token, are not securities. This means they are not subject to SEC oversight under current guidelines.