$TRUMP Token Surges 12% Following Trump’s “Greatest” Endorsement
Donald Trump's presidential memecoin has emerged as the top-performing digital asset according to CoinGecko data. Following a post from Trump on Truth Social calling it "the greatest of them all," the token's price surged from approximately $10.93 to $12.25, marking a 12% increase. Currently, the $TRUMP token is trading around $11.91, up about 9%.
Key details include:
- Best performing crypto of the Asia trading day
- Other notable tokens: Ethena up 8.9%, Bonk up 8%, Mantle up 7%
- The CoinDesk 20 index is up around 2%
- $TRUMP token previously soared to billions in market cap before crashing 75% amid market turmoil
- Political backlash includes the proposed MEME Act aimed at regulating officials' involvement with meme coins
- Rep. Sam Liccardo criticized the $TRUMP token for potential exploitation and insider trading concerns
- The SEC does not classify memecoins like $TRUMP as securities