A surge in the TRUMP token's value followed a positive mention from Donald Trump himself.
The presidential meme coin, $TRUMP, saw a remarkable 12% increase after Donald Trump lauded it on his Truth Social platform. It is currently trading at $11.91. This significant rise comes amidst considerable volatility for the token since its January launch, including a dramatic 75% price drop. The token has also faced political headwinds.
House Democrats, spearheaded by Rep. Sam Liccardo, have proposed the MEME Act aimed at preventing federal officials and their families from benefiting financially from meme coins. The SEC, meanwhile, has clarified that meme coins are not considered securities and therefore fall outside their regulatory purview.
The $TRUMP token experienced its best performance of the day during Asian trading hours, fueled by a social media endorsement from the former President, who described the token as "the greatest of them all" and "cool."
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