Trump endorsed the Official Trump ($TRUMP) token on Truth Social, causing the token’s price to jump by 10%.
President Donald Trump has publicly expressed his endorsement of the digital currency known as the Official Trump ($TRUMP) token.
In a message posted on his Truth Social platform on Sunday, Trump conveyed strong approval, characterizing the token as “so cool” and “the greatest of them all.”
This digital asset, launched in anticipation of Trump’s inauguration, is built on the Solana blockchain and features a total supply of 1 billion tokens.
Truth Social Post Spurs Token Price Increase
Upon its initial release, 200 million tokens were made publicly available.
The remaining 800 million tokens are held by CIC Digital LLC, identified as an affiliate of the Trump Organization, and Fight Fight Fight LLC.
Following its market entry, the token’s price experienced a rapid escalation, rising from below $10 to $75 within its first trading days.
This price surge resulted in the token achieving a market capitalization exceeding $15 billion.
In the days immediately after its launch, the trading volume of the token reached $29 billion.
The release of the reserved tokens is scheduled over a three-year period.
This process begins with an initial lock-up duration of 3 to 12 months, followed by a gradual daily unlocking of tokens over a subsequent 24-month timeframe.
The token’s price has shown considerable instability.
After the launch of the $MELANIA token on January 19, the value of the $TRUMP token decreased by almost 50%, settling in the $30 to $40 price range.
The project’s marketing positions the token as a “statement of support” for Donald Trump, rather than as a conventional financial investment.
The token’s logo includes a cartoon depiction of Trump raising his fist, a reference to an assassination attempt that occurred in July 2024.
Also Read: Trump Addresses Digital Asset Summit in Historic Crypto Speech
