A sudden endorsement of the $TRUMP meme coin sent the price surging higher on Sunday. However, some are concerned about the timing and the intent behind President Trump’s Truth Social post that caused the TRUMP coin pump.
The President posted on his social media platform Truth Social out of nowhere on Sunday morning, sending the meme coin community into a frenzy. It’s been more than two months since the $TRUMP coin was launched on Solana. It’s also been multiple weeks since Trump even acknowledged the coin to the media. This makes the timing of the social media post all the more suspicious.
With that being said, nothing about the $TRUMP coin launch has been very comforting for investors. The coin launched in the middle of the night and just a few hours before Trump’s official inauguration to the Oval Office. The President didn’t even publicly acknowledge the project until weeks later. This left many to question how involved he was in the project.
Trump’s mention of the $TRUMP coin on Truth Social sent the coin higher by as much as 13% on Sunday. The mini-surge was a small consolation to holders though. From its highs of approximately $75.00 in January, the coin is down some 84%. On Sunday, $TRUMP hit over $12.00, but those gains quickly faded by the end of the session.
Crypto Industry Struggles with TRUMP Coin Pump Morality
Most traders on social media and Crypto Twitter have been skeptical of Trump’s endorsement. Not just the message, but the timing in particular. The first major token unlock for early holders takes place on April 18th, so some are suggesting we will see some more mentions by insiders to inflate the price.
The moral and ethical angle to the $TRUMP coin has clearly also bothered many in the industry. A lot of casual traders have lost significant amounts of money buying the $TRUMP coin. The project advertises itself as an ‘expression of support’ for President Trump and his new administration. Almost every trader who bought the coin after the public launch is now at a loss on this investment. Most of the early investors who are still sitting on a profit for $TRUMP coin are members of his immediate family.
The President of the United States endorsing his own meme coin isn’t exactly what you’d like to see for the future of this industry. $TRUMP coin’s launch has marked an undeniable top for the markets in 2025, despite many believing that the new administration would be a bullish catalyst to send cryptos higher this year.