President Donald Trump has expressed strong support for the official Trump ($Trump) token. In a Sunday post on Truth Social, he described the token as “very cool” and praised it as “the greatest of all of them.”
Trump’s support has caused a 10% surge in the price of $Trump Token. Coingecko’s data shows it has risen from around $10.9 to $12.
The digital assets launched prior to Trump’s inauguration will work on the Solana blockchain with a total supply of 1 billion tokens. The first public release consisted of 200 million tokens, but Trump organization affiliates CIC Digital LLC and Fight Fight LLC hold the remaining 800 million tokens.
Token prices skyrocketed from under $10 to $75 in the first few days of the transaction, reaching a market capitalization of over $15 billion. The volume reached $29 billion on the first day of launch.
Reserved tokens are subject to a 3-year, phased release schedule that starts with a 3-12-month lockup period and unlocks daily for 24 months.
The token experienced significant volatility, dropping nearly 50% to the $30-$40 range after the $Melania token was launched on January 19th.
The project is being sold as a “expression of support” for Trump, rather than as a traditional investment. The logo features a cartoon image of Trump raising his fist, referring to the July 2024 assassination attempt.
