Trump publicly endorses TRUMP coin on Fact Social, token jumps 10%

Key Takeaways

Donald Trump publicly endorsed the $TRUMP token on Fact Social, resulting in preliminary value and buying and selling quantity surges.
The $TRUMP token skilled excessive volatility with its value considerably dropping submit the launch of the $MELANIA token.

President Donald Trump has voiced robust help for the Official Trump ($TRUMP) token. In a Sunday submit on Fact Social, he described the token as ‘so cool’ and hailed it as ‘the best of all of them.’

Trump’s endorsement triggered a ten% surge within the $TRUMP token’s value. CoinGecko information signifies it climbed from roughly $10.9 to $12.

The digital asset, launched forward of Trump’s inauguration, operates on the Solana blockchain with a complete provide of 1 billion tokens. The preliminary public launch comprised 200 million tokens, whereas CIC Digital LLC, a Trump Group affiliate, and Battle Battle Battle LLC maintain the remaining 800 million tokens.

The token’s value surged from beneath $10 to $75 in its first days of buying and selling, reaching a market capitalization of over $15 billion. Buying and selling quantity hit $29 billion within the preliminary days after launch.

The reserved tokens are topic to a phased launch schedule spanning three years, starting with lock-up durations of three to 12 months, adopted by every day unlocks over 24 months.

The token skilled vital volatility, dropping practically 50% to the $30-$40 vary following the launch of the $MELANIA token on January 19.

The mission markets itself as an “expression of help” for Trump moderately than a standard funding. Its brand encompasses a cartoon picture of Trump elevating his fist, referencing a July 2024 assassination try.