Official Trump (CRYPTO: TRUMP) dramatically surged Sunday after none other than President Donald Trump promoted the meme coin on social media.
What happened: The Solana (CRYPTO: SOL)-based token ripped over 11% within an hour after Trump posted from his Truth Social account, “I LOVE $TRUMP — SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!”
Screenshot from Donald Trump’s Truth Social Account
However, as with the two-month-old coin’s previous swings, it couldn’t sustain the rally for long, plummeting back into the $11 zone.
That said, TRUMP remained the market’s third-biggest gainer in the last 24 hours, rising over 7%. Moreover, its trading volume skyrocketed 288% to $1.22 billion, becoming the most traded meme coin on the day.
The fluctuating price action became the undoing of an investor who previously profited from …Full story available on Benzinga.com
