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- Trump Token soared following Donald Trump public endorsement on Truth Social.
- The token’s price jumped 10%, with trading volume spiking over 400% in 24 hours.
- The endorsement has sparked a wider meme coin boom, with speculative bets pouring in.
Following the public endorsement by President Donald Trump, the Official Trump $TRUMP meme token saw the token’s value increase. Trump, in a Truth Social post, called the Solana-based token “the greatest of them all,” triggering a 10% price hike from $10.9 to $12.
The trading volume surged over 400% to $1.6 billion within 24 hours, pushing the token’s market cap to $2.4 billion. The approval pushed $TRUMP onto one of the biggest gainers, and demand for the token spiked all over again.
Despite the pump, $TRUMP remains well over 80% down from its January high, which indicates just how volatile meme coins are. Trump’s backing has plainly renewed optimism within the market, however.
Meme Coins Rally as Trump Effect Spreads
The positive sentiment surrounding $TRUMP spilled over into the general meme coin market, lifting a variety of related tokens. Traders rushed to speculative assets, hoping that increased popularity could carry the entire sector higher.
- Dogecoin (DOGE) gained roughly 3%, trading at approximately $0.177 with a $26.2 billion market cap and $787 million in daily trading volume. Being the largest meme coin, DOGE’s rise reflects general improved risk sentiment among crypto traders.
- Shiba Inu (SHIB) added 2%, reaching $0.0000133. The token’s $7.8 billion market cap and $145 million in daily volume and its modest gain show positive sentiments spilling over to other dog-themed coins.
- Pepe (PEPE) surged nearly 5%, trading at $0.0000076 with a $3.2 billion market cap and $486 million in trading volume. The renewed interest in PEPE suggests that speculative bets, which had been consolidating following its breakout last year.
- Jeo Boden (BODEN), a satirical token inspired by President Joe Biden, rose 5% to $0.0026, with $630,000 in trading volume over the past day. The price surge is a sign of general speculative flows into politically themed meme tokens.
- MAGA – A “Make America Great Again“-themed memecoin also saw speculative inflows. A single MAGA token is selling at about $0.000014 with a market cap of about $5.5 million. Its volumes peaked at $11 million in the last day as short-term investors tried to surf on the Trump-related momentum.
Across the board, large and small meme coins are flashing green. Market analysts note a clear correlation to the Trump token news—the president’s crypto endorsement has provided a halo effect, with meme coin enthusiasts rotating into other coins in hopes of riding a wider rally. The surge of these tokens together illustrates how quickly hype can spread in the meme coin universe.
Analysts Warn of Volatility Despite Gains
While the meme coin rally has excited traders, analysts are warning about caution. Meme coins remain highly speculative, and more so based on hype than fundamentals. The history of the $TRUMP token is proof of how volatile this space is.
Despite the strong recovery in $TRUMP and related tokens, analysts warn that gains may prove short-lived if sentiment shifts. Meme coins have historically followed a “boom-and-bust” cycle, with sharp price surges often followed by equally brutal declines.
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