The official memecoin of Donald Trump based on Solana is experiencing a sharp surge in interest. Over the past week, it has grown by 46%, and its market capitalization has reached $1.67 billion.
According to some analysts, the growth was caused by a “relief rally” effect — the market is rebounding after a recent decline amid easing macro tensions around Trump.
TRUMP was under pressure for a long time: since May, when a private dinner was held for the largest token holders with Trump himself, the memecoin was slowly declining and by October 10 fell to $1 billion market cap. This coincided with Trump's sharp statements about new tariffs against China, which triggered mass sell-offs in the crypto market and the largest wave of liquidations in its history.
However, since then the situation has changed. Over the past two weeks, TRUMP has grown by about 55%, according to CoinGecko. Daily trading volume also soared, from the usual $200–300 million to $2.4 billion in the last 24 hours.
Although there is no clear reason for the TRUMP rally, strategist Wintermute Jasper de Maer believes the growth is logical amid easing macro pressure.
“TRUMP remains a key element in Trump's political crypto agenda, so it's quite natural for the token to revive after a prolonged slump. This is a typical relief rally: the market is rebounding from tension, and with it comes renewed interest, activity, and price growth,” he explained.
Additional background for the recovery was provided by geopolitical shifts. On Wednesday, the US and South Korea signed a trade agreement on mutual tariff reductions. And earlier, on Sunday, the US and China agreed on a general framework for a future trade deal.
Earlier in October, Donald Trump threatened 100% tariffs on Chinese goods, which triggered a chain reaction: the market responded with the largest liquidation in crypto history, totaling $19 billion.
At the beginning of the year, Trump himself reposted a Newsmax article claiming that his official memecoin is not just a token, but a way to “track the president's performance” in real time, as an alternative to ratings and polls. Perhaps the drop of TRUMP in October was due to investor fatigue from trade conflicts, but as soon as the tension eased, the coin started to rise again.
A similar trend is seen on the prediction market Myriad: Trump's approval rating there fell from 50.8% to 35.6% immediately after the crash, but has since recovered to 49.2% — almost in line with the rise in TRUMP price.
Trump's approval rating on the prediction market. Source: Myriad
Fresh news related to Trump's crypto initiatives also fueled TRUMP growth.
On Tuesday, Trump Media announced the launch of the Truth Predict platform — a prediction market that will operate in partnership with Crypto.com. Users will be able to bet on sports events, elections, and other major news topics.
And on Wednesday, World Liberty Financial, another Trump-related project, announced the distribution of 8.4 million WLFI tokens (about $1.2 million) to early participants of their stablecoin program USD1. The company emphasized that this is “just the beginning,” and their rewards system will “continue to expand.”
According to de Maer from Wintermute, these two events may have triggered a speculative rally: in just one day, TRUMP rose another 22.8%, reaching $8.45.
Nevertheless, the token is still 88.6% below its all-time high of $73.43, which it reached in the first days after launch.
