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# $TRUMP Soars Beyond $12 Following Trump’s Support
The authorized Trump-inspired digital currency, $TRUMP, saw a rise of over 10%, hitting $12.25, after Donald Trump openly backed the token on his social media site, Truth Social.
According to figures from crypto.news, the $TRUMP token has exceeded the $12 mark, reaching a peak of $12.25. At the time of publication, $TRUMP is being exchanged at $11.94, an increase of over 9% in the previous 24 hours. However, it should be noted that the token has had a difficult month, decreasing by over 26.4%.
In addition to the price increase, the market capitalization of the Trump-inspired coin has also experienced a much-needed increase after a period of inactivity. The Solana-based token’s market cap has grown by 8.3% in the last day, reaching $2.37 billion, following Trump’s post.
Additionally, $TRUMP’s daily trading volume has risen by over 375.1%, indicating increased market activity since Trump’s support on Truth Social.
On March 23, President Trump made an unexpected post on Truth Social, openly declaring his support for the token. Truth Social, which was launched in 2022, is owned by Trump Media & Technology Group and serves as Trump’s favored social media platform for sharing updates on government policies and his personal opinions.
This time, he utilized the platform to convey his enthusiasm for the $TRUMP token, calling it the “greatest” token ever.
“I LOVE $TRUMP – IT’S SO COOL!!! THE GREATEST OF ALL TIME!!!!!!!!!!!!!!!!” Trump wrote in his recent post.
Soon after Trump’s post, the token increased by over 10%, reaching a peak of $12.25. Before this increase, the token had been struggling, barely reaching around $10 in the days preceding the endorsement.
However, the high didn’t remain for long. The token has since fallen back below $12 as the excitement subsides.
Amid the latest market downturn, a prominent investor experienced a loss of $207,000. Based on blockchain information from Lookonchain, this investor allocated a substantial $5 million in USDC to acquire a significant quantity of $TRUMP tokens, only to sell them off just an hour afterward. Toncoin (TON) Value Forecast for March 26th
This specific investor is well-known in the digital currency sphere, largely due to their remarkable $108 million gain early in the Trump token’s introduction. They originally put in $1.09 million in USDC to obtain $5.97 million worth of $TRUMP.
Last week, Donald Trump delivered a virtual address at the Blockworks’ Digital Asset Summit in New York. Throughout his talk, he addressed the significance of stablecoin oversight, strategic Bitcoin (BTC) holdings, and the possible disadvantages of cryptocurrency restrictions.
Note: This does not constitute financial guidance. The information and resources on this page serve solely for learning purposes.
