After months of maintaining limited involvement, former President Donald Trump has finally and explicitly endorsed the $TRUMP token, causing immediate market waves.
“I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!” Trump posted on Truth Social on Sunday, March 23, 2025. Talk about a shift in stance.
The market reacted instantly. $TRUMP jumped from $10.93 to $12.24 within minutes—a neat 10-12% pop. Trading volume exploded, doubling to over $1 billion for the day. Not too shabby for a Sunday post. The token briefly hit $12.30 before settling around $11.90. Crypto bros were buzzing.
This wasn’t just any regular trading day. Volume surged a whopping 288% to $1.22 billion, making $TRUMP the day’s hottest meme coin. Open interest shot up from $223 million to $323 million in hours. Short-sellers got crushed, with $1.6 million in liquidations within 24 hours. Ouch.
But here’s the kicker—$TRUMP is still way down from its glory days. Currently valued around $2.2 billion and ranked somewhere between #41-#52 among tradable assets, it’s sitting 85% below its all-time high. Analysts note this may be a temporary boost as the price showed a gradual rebound after an initial pullback following the endorsement.
Remember when it hit $74? Those were the days! The token has shed nearly $65 billion since its January peak. Brutal.
Some traders played it smart. One top whale sold into the pump, banking a cool $31.8 million profit. Meanwhile, another investor dropped $5 million on the token only to lose $207K within an hour. So much for timing the market.
What’s raising eyebrows is the token distribution. Of the 1 billion total tokens, a whopping 800 million are held by Trump-linked entities.
In fact, just 40 wallets control 94% of $TRUMP and MELANIA tokens. Concentration much?
With 40 million tokens (4% of supply) scheduled for release on April 18, some skeptics wonder if Trump’s sudden endorsement might be about creating exit liquidity. The coming token unlocking event could potentially create additional selling pressure on the market. Just saying.
