Donald Trump's Official Token Surges 25%, Some Observers See it as Bet on His Presidency

TRUMP memecoin riches person spurred billions of dollars for the recently sworn-in U.S. President Donald Trump, an magnitude helium termed arsenic “peanuts” compared to firm bigwigs successful his archetypal code of the token since launch.

"I don't cognize overmuch astir it different than erstwhile I launched it. I heard it was successful,” Trump said successful a property league connected Tuesday erstwhile asked by a reporter. “Where is it today? Several billion?

“That's peanuts for these guys,” helium added, referring to the networth of different businessmen successful the country that included SoftBank's Masayoshi Son, OpenAI's Sam Altman and Oracle's Larry Ellison.

Token prices zoomed 25% successful the past 24 hours, beating gains successful bitcoin (BTC) and different majors, to reverse losses from earlier successful the week. It sits astatine an $8 cardinal marketplace capitalization arsenic of Wednesday morning, up astir 900% since going live.

Trump besides unveiled a $500 cardinal associated task termed Stargate astatine the event, which aims to physique information centers successful Texas and would put successful AI infrastructure.

Meanwhile, immoderate spot TRUMP arsenic a stake connected the Republican’s popularity and policies successful his term, with ripple effects connected however it whitethorn signifier up Web3 and memecoin markets.

“Longer term, TRUMP coin could enactment arsenic a barometer for nationalist sentiment towards Trump’s presidency,” Yat Siu, co-founder and enforcement president of Animoca Brands told CoinDesk successful a message. “Culture memes and tokens are fundamentally a highly adaptable nationalist polymarket of civilization and zeitgeist, and we’ve seen this play retired accordingly.”

“(However) If the inaugural is perceived arsenic a currency drawback without further engagement, we whitethorn good spot a crypto chill for meme tokens, perchance draining attraction and liquidity retired of the meme space. How the TRUMP token is handled is apt to person a ripple effect connected spot and estimation for the full crypto and Web3 industry,” Siu added.