TRUMP Memecoin Rallies 25%, Market Cap Hits $8 Billion as Bitcoin Lags

The TRUMP memecoin, linked to President Donald Trump, has surged 25% over the past 24 hours, outperforming bitcoin (BTC) and other major cryptocurrencies. The token’s market capitalization has climbed to $8 billion, marking a staggering 900% gain since its launch.

At a press conference on Tuesday, Trump addressed the token’s success for the first time. “I don’t know much about it other than when I launched it. I heard it was successful,” he said when questioned about the memecoin. Learning of its valuation, Trump commented, “Several billion? That’s peanuts compared to these guys,” pointing to Masayoshi Son of SoftBank, Sam Altman of OpenAI, and Larry Ellison of Oracle, who were in attendance.

Trump used the occasion to announce Stargate, a $500 billion joint venture focused on building data centers in Texas and advancing AI infrastructure, aligning his administration with technological progress and innovation.

Cultural Barometer or Passing Fad?

Some analysts view the TRUMP token as a broader gauge of public sentiment toward Trump’s presidency and policies.

“TRUMP coin could function as a real-time measure of public sentiment toward Trump’s leadership,” said Yat Siu, co-founder and executive chairman of Animoca Brands, in a message to CoinDesk. “Memecoins often act as a cultural snapshot, and TRUMP is no exception, reflecting the current zeitgeist.”

However, Siu also issued a warning. “If this initiative is seen as a cash grab without ongoing engagement, it could negatively affect the broader meme token market, draining liquidity and attention. The way TRUMP is handled will have ripple effects on the reputation of crypto and Web3.”

With its meteoric rise, the TRUMP token is drawing attention not just as a financial instrument but also as a potential cultural and political touchstone, underscoring the intersection of cryptocurrency, politics, and Web3 innovation.