TRUMP Token Surges Amid Presidential Endorsement and Regulatory Scrutiny
24.03.2025 09:24
Donald Trump’s memecoin, $TRUMP, skyrocketed by 12% after the former president endorsed it on Truth Social, pushing its price from around $10.93 to approximately $12.25 before settling at about $11.91. This surge made $TRUMP the best-performing crypto in Asia for the day. Other meme tokens, including $ETHENA, $BONK, and $MANTLE, also saw significant gains of 8.9%, 8%, and 7% respectively. However, the rally comes with a caveat as Rep. Sam Liccardo and House Democrats have criticized the $TRUMP token, linking it to concerns of insider trading and proposing the MEME Act to curb such practices by federal officials. Despite this political backlash, the SEC has stated that meme tokens like $TRUMP are not classified as securities, thus remaining outside its regulatory scope. This development highlights the ongoing volatile interaction between influencer endorsements and the emerging push for stricter regulation in the crypto market.
The news predominantly boosts $TRUMP in the short term due to Trump’s endorsement, generating speculative buying that pushed its price significantly upward. However, political backlash and the proposed MEME Act introduce uncertainty, potentially leading to volatility. Immediate sentiment is positive, but sustained performance will depend on resolving regulatory concerns and broader market acceptance.
With an observed 8.9% gain, $ETHENA benefits from the overall market momentum for meme tokens. Although this surge suggests a strong short-term trend driven by investor enthusiasm, its long-term performance will rely on the coin’s underlying fundamentals and the extent to which legislative uncertainties affect the segment.
An 8% increase marks $BONK's participation in the broader rally of meme coins sparked by high-profile endorsements. The price boost is likely short-lived if market sentiment shifts due to regulatory debates, though continuing momentum in this niche sector may sustain further movement in the near term.
Reporting a 7% rally, $MANTLE reflects modest gains in the wake of positive market sentiment surrounding meme coins. Though it enjoys the immediate benefits of a bull run, longer-term prospects could be dampened if regulatory intervention or market corrections occur amid increasing scrutiny.
Sources
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