President Trump Openly Loves TRUMP, Triggering a 10% Surge
The project emphasizes that this is a symbol of support for Trump rather than an investment, with a logo inspired by the failed assassination attempt in July 2024.
US President Donald Trump has sent shockwaves through the crypto market by officially expressing his support for the TRUMP memecoin on the Truth Social platform.
In a post late Sunday night (Vietnam time), Mr. Trump described the memecoin named after him as "very cool" and called it "the greatest of all". Immediately, the price of TRUMP increased by 10%, from about $ 10.9 to $ 12. Thanks to that, the market capitalization of the meme coin was also "added" by $ 100 million.
However, this token is still trading 85% lower than its historical peak, still in a long slide since its launch.
Official Trump (TRUMP) is not just a cryptocurrency project but also has a strong political color, associated with the image of the president. TRUMP was launched before Trump's inauguration and operates on the Solana blockchain, with a fixed total supply of 1 billion units.
The token allocation structure is also noteworthy:
200 million tokens as the initial circulating supply.
The remaining 800 million tokens are owned by CIC Digital LLC (a company affiliated with the Trump Organization) along with Fight Fight Fight LLC.
These tokens are not sold immediately but are locked over a 3-year roadmap. This means that the token circulation will increase gradually over time, which can affect the value of the token in the long term.
Immediately after its launch, TRUMP attracted strong attention from both investors and the Trump support community. The token price quickly skyrocketed from under $10 to a peak of $75, pushing the market capitalization to over $15 billion. In the first days, the trading volume of this token also reached a terrifying level, reaching 29 billion USD.
However, the wave of excitement did not last long. On January 19, the MELANIA token named after First Lady Melania Trump suddenly launched, causing the price of TRUMP to drop by nearly 50%, falling to 30-40 USD. This event raised questions about the true motive and whether Trump-related tokens were competing with each other.
However, after a direct support post from Trump, TRUMP recovered slightly. The TRUMP project did not position itself as a traditional investment but was promoted as a belief in Trump. This is a smart approach, targeting his loyal voters, who are willing to support in any form, including cryptocurrencies.
The token’s logo further reinforces that message: a cartoon image of Trump raising his fist, inspired by the failed assassination attempt in July 2024. The event has become a symbol of power and loyalty, and the project cleverly exploits that to attract buyers.
Donald Trump’s endorsement has clearly created a short-term surge in the token’s price, but the future of TRUMP remains uncertain. With a three-year token unlock schedule, supply pressure could cause prices to fluctuate wildly.
In addition, competition from Trump-related tokens like MELANIA could continue to weigh on TRUMP’s value. In the long term, the token could depend heavily on Trump’s political situation.
