A renewed rally in the cryptocurrency market has fueled sharp gains in the Official Trump (CRYPTO: TRUMP) memecoin.
TRUMP Memecoin Rallies
TRUMP jumped over 11% in the last 24 hours to levels not seen in four months. The cryptocurrency is up a whopping 80% in a week, making it the third-biggest gainer in the market.
Moreover, TRUMP is up 61% in a month, 24% in the last three months, but down 47% year-to-date.
The coin recorded a 6.94% increase in open interest over the past day and an 186% gain over the week, as spot-price momentum galvanized derivatives trading, according to Coinglass.
Meanwhile, the top 20% of Binance traders by margin balance had a predominantly net long exposure to TRUMP.
Trump Restates Pro-Crypto Stance
TRUMP memecoin’s surge came amid a sharp rebound across markets this week, fueled by a combination of macroeconomic and cryptocurrency-specific catalysts.
Notably, President Donald Trump hosted White House cryptocurrency summit in the presence of top cryptocurrency and prediction-market executives. He reaffirmed his commitment to preserve U.S. leadership in Bitcoin (CRYPTO: BTC), cryptocurrency and prediction markets.
The Tumultuous Journey of TRUMP
The TRUMP memecoin was launched just before Trump’s presidential inauguration in January 2025. At its peak, it soared to a market capitalization of $9 billion, while the fully diluted valuation, factoring in Trump-affiliated holdings, ballooned to $75 billion.
Fast forward to April 2026, and the coin’s market capitalization has plunged to $635 million, reflecting a drawdown of 93%.
A disclaimer on the coin’s official website states that the token is intended to serve as a symbolic expression of support for the ideals and beliefs represented by the ‘TRUMP’ symbol. It also denies any link to any political campaign or government agency.
Price Action: At the time of writing, TRUMP was exchanging hands at $2.54, up 11.61% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Kirill Aleksandrovich on Shutterstock.com
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