President Trump's Truth Social Post Sends Official Trump Memecoin's Price Soaring

President Trump made a rare direct reference to the Official Trump memecoin with a Truth Social post on Sunday, driving trading volume and

President Trump's Sunday morning post on Truth Social saw him make a rare direct reference to the Official Trump memecoin, sending trading volume through the roof and the token price up sharply, though it has since pulled back.

"My Official Trump Meme Token is SO COOL - The Greatest of them all! I don't know much about it other than I launched it and it got very successful. I haven't checked,'" reads the post, which appears to be referring to a comment he made to reporters in January.

Following the post, the Official Trump token rose in price from $10.91 to about $12.11, an increase of about 11%, before retreating to its current value around $11.46 at time of publishing, for a total gain of around 5%, according to The Block's Official Trump Price Page. The gain represents around $100 million in market capitalization.

The post also sent trading volumes spiking to the highest levels since early March, according to GeckoTerminal data, as traders moved quickly to capitalize on the promotion.

The launch of Trump's memecoin in January, along with the less-successful Melania Meme token styled after his wife, was met with criticism, leading one Democratic lawmaker to introduce a bill that would block the president, members of Congress and other senior officials, as well as their spouses and children, from issuing or sponsoring securities and cryptocurrencies like memecoins. The Melania Meme token is down about 4.8% in the past 24 hours, according to The Block's data.