Trump Boosted His Own Meme Coin, Deems it ‘The Greatest of Them All’

President Donald Trump made a rare direct reference to the Official Trump meme coin in a Truth Social post on Sunday, briefly sending its price soaring.

Calling the token "SO COOL" and "The Greatest of them all," Trump’s endorsement sparked a 10% surge in $TRUMP, pushing its price from around $10.90 to $12, according to CoinMarketCap data.

Trading volumes spiked to their highest levels since early March, as traders rushed to capitalise on the momentum, GeckoTerminal data showed.

However, the rally was short-lived, with $TRUMP retreating to $11.65—a 7.77% gain in the past 24 hours but still down 28.26% over the past month.

TRUMP Coin’s Meteoric January Rise Hastened its Rapid Decline

Launched ahead of Trump’s inauguration, the digital asset runs on the Solana blockchain with a total supply of 1 billion tokens.

Of these, 200 million were initially released to the public, while the remaining 800 million are held by CIC Digital LLC, a Trump Organisation affiliate, and Fight Fight Fight LLC.

TRUMP’s price skyrocketed from under $10 to $75 in its early days, briefly pushing its market capitalisation beyond $15 billion, with trading volume peaking at $29 billion.

The reserved tokens follow a structured release schedule over three years, starting with lock-up periods of three to 12 months, followed by gradual daily unlocks over 24 months.

However, the asset has seen sharp volatility, plunging nearly 50% to the $30-$40 range after the launch of the $MELANIA token on 19 January.

Positioned as an “expression of support” rather than a conventional investment, the project features a logo of a cartoon Trump raising his fist—an apparent nod to the attempted assassination in July 2024.

Is There Hope for TRUMP Meme Coin’s Revival or is it Destined for the Dumpster?

The TRUMP token may see renewed momentum as market sentiment improves following the Federal Reserve’s recent FOMC meeting, where it confirmed that interest rates will remain unchanged.

This decision has provided some relief to financial markets, with Polymarket bettors wagering over $6 million on the Fed potentially ending its quantitative tightening program in May.

If this prediction holds, increased liquidity could flow into riskier assets like crypto, fuelling a broader market rally.

Additionally, TRUMP’s breakout from a nearly two-week consolidation phase suggests renewed upward potential.

If the token maintains support at $10, it could establish a strong foundation for a push toward $20, its next key resistance level.

While a return to previous all-time highs remains an uphill battle, favourable market conditions and strong fundamental catalysts could set the stage for a sustained recovery.