US President Pumps His Meme Coin, Triggering 10% Surge In $TRUMP Price

U.S. President Donald Trump has not said anything about his memecoin in weeks, but on Sunday, the business mogul took to his Truth Social account, saying he "loves" the meme token, fueling a significant jump in the digital coin's price.

Data from CoinGecko showed that at one point, the memecoin traded at around $12.25 Sunday night after Trump himself "pumped" the token. The crypto asset's chart clearly shows the dramatic price change after he posted on his social media platform.

Trump Pumps $TRUMP – A New Era of 'Political Trading'?

"I love $TRUMP – so cool!!! The greatest of them all!" he wrote Sunday, driving the coin to a 10% spike overnight.

After his token had a nosedive moment not even a month since its launch, the president only attempted to pump the token once, to no avail.

However, it appears he is once again moving to promote the memecoin amid a gradual recovery in the crypto market. Bitcoin has slightly climbed to $85,000 following a two-week struggle that saw its price plunge below $77,000 at one point.

The TRUMP token's price movement easily grabbed the attention of cryptocurrency users on X, highlighting how the memecoin segment is still very much alive despite a broader downturn in the crypto market in recent weeks.

A well-followed crypto analysis page on X (formerly Twitter) noted how the TRUMP token's Sunday movement highlights the U.S. president's strategic moves in promoting his own memecoin.

"Trump's strategy is pure behavioral genius: anchoring public sentiment through bold, emotional plays. While critics rage, traders who understand sentiment are stacking gains," the account wrote.

As of writing, the TRUMP coin is trading below $12, but remains in the green by over 9% in the last 24 hours.

Is $TRUMP a Scam?

Amid the TRUMP meme coin's price jump, there are still many crypto users who believe the token is a scam project.

Notorious hacker Brett Johnson, who now works as a public speaker, took to X to "remind" crypto holders that the president's digital coin "is a scam," with more than $12 billion said to have been wiped from investors after the token's price plunge from as high as $73 to as low as $4.

Blockchain Bob, one of the popular traders on "Crypto Twitter," the community of crypto users on X, said he doubts "anyone really cares about it [TRUMP token] again," since the majority of crypto holders within the community "blame" the president for where the market is at this point.

Long-time crypto user Michael Winwolf said "TRUMP was the biggest grift in crypto history," and since "crypto is cooked," the market will never see new highs moving forward.

Trump has yet to directly address allegations that his memecoin is a scam.