Key Takeaways
Donald Trump publicly endorsed the $TRUMP token on Truth Social, leading to initial price and trading volume surges.
The $TRUMP token experienced high volatility with its price significantly dropping post the launch of the $MELANIA token.
President Donald Trump has voiced strong support for the Official Trump ($TRUMP) token. In a Sunday post on Truth Social, he described the token as ‘so cool’ and hailed it as ‘the greatest of them all.’
Trump’s endorsement triggered a 10% surge in the $TRUMP token’s price. CoinGecko data indicates it climbed from approximately $10.9 to $12.
The digital asset, launched ahead of Trump’s inauguration, operates on the Solana blockchain with a total supply of 1 billion tokens. The initial public release comprised 200 million tokens, while CIC Digital LLC, a Trump Organization affiliate, and Fight Fight Fight LLC hold the remaining 800 million tokens.
The token’s price surged from under $10 to $75 in its first days of trading, reaching a market capitalization of over $15 billion. Trading volume hit $29 billion in the initial days after launch.
The reserved tokens are subject to a phased release schedule spanning three years, beginning with lock-up periods of 3 to 12 months, followed by daily unlocks over 24 months.
The token experienced significant volatility, dropping nearly 50% to the $30-$40 range following the launch of the $MELANIA token on January 19.
The project markets itself as an “expression of support” for Trump rather than a traditional investment. Its logo features a cartoon image of Trump raising his fist, referencing a July 2024 assassination attempt.