In a bold Sunday post on Truth Social, former U.S. President Donald Trump gave a shoutout to his namesake meme coin — and the internet reacted instantly.
“I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!,”
he told his 9.3 million followers, sending the token into a brief rally. The price spiked to $12.17 right after the post before cooling off to around $11.85.
The coin, launched back in January on the Solana network, initially made waves with a market cap that briefly flirted with the $14.5 billion mark. The original rollout featured 200 million tokens, with plans to scale the supply up over time.
Despite the excitement, not everyone is cheering.
According to market data, Sunday’s post caused a big bump in volume — the highest seen since early March. The token bounced back from a daily low of $10.74 and has been hovering near resistance at $12.50.
However, it’s worth noting the token is still far below its all-time high of $73.4. And while the internet loves a meme moment, legal experts are sounding alarms over what it all means.
Andrew Rossow, a digital media lawyer, criticized the situation, saying endorsements like this blur ethical lines:
“These kinds of posts undermine regulatory agencies and set a troubling example,”
he told Decrypt.
This isn’t the first time Trump has made headlines over the token. Back in January, he admitted he wasn’t entirely sure what the coin was about.
“I don’t know much about it other than I launched it,”
he said to reporters.
“I heard it was very successful.”
Lawmakers aren’t taking it lightly. A new bill — the MEME Act — aims to prevent elected officials and their families from profiting off digital assets they promote. Rep. Sam Liccardo, who introduced the bill, said it’s about preventing potential conflicts of interest:
“This raises real concerns about insider trading and foreign influence.”
Love it or hate it, the $TRUMP token just had another viral moment. But whether it translates into long-term value — or more regulatory headaches — remains to be seen.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
