Trump Said "The Biggest" for His Own Meme Coin, Price Skyrocketed! - Coin Bulletin

President Trump, with a rare post on Truth Social, referred to the Official Trump memecoin as the "biggest," causing a significant increase in the token's price.

On Sunday, President Donald Trump described the Official Trump memecoin as the "biggest" and "very cool" in a post on Truth Social. This rare post temporarily increased the token's price by 11%, rising from $10.91 to $12.11.

However, the price quickly pulled back and is currently trading at $11.46, reflecting a 5% gain. This price increase translates to an approximate gain of $100 million in market value.

The impact of Trump's post on trading volume

After Trump's post, transactions on the Official Trump token reached their highest levels since the beginning of March. According to the data, trading volume showed a significant increase. Investors began to see Trump's social media post as an opportunity and started to buy and sell the token. This situation has indicated high volatility in the memecoin market and rapid profit opportunities.

After the release of Trump's memecoin in January 2023, there were significant fluctuations. Initially, the token was supported by Trump himself and gained a large value for a short period. However, broader market turmoil and declines led to a 75% loss in value of the token.

Political debates and legislative proposals

The launch of Trump's memecoin attracted attention not only financially but also politically. Some congressional members from the Democratic Party introduced a bill aimed at preventing the issuance of these types of tokens by federal authorities. This bill is known as the "MEME Act" and aims to prohibit federal officials and their families from profiting from meme coins.

Democrats are warning that Trump and his family could manipulate the public using memecoins, potentially leading to insider trading and foreign intervention risks. The law covers not only memecoins but also other financial assets and securities.

The situation of SEC and memecoins

Trump's memecoin was not classified as a security by the SEC ( Securities and Exchange Commission ). The SEC stated that memecoins are not securities and therefore are not subject to regulation. This situation indicates that there are still uncertainties regarding the regulation of memecoins.