The digital ticker boards often tell a wild story, but few expected them to light up quite like this week. Political pronouncements, it seems, can move more than just stock markets. They can send memecoins soaring. We saw this play out vividly with the TRUMP and MELANIA tokens, both tied to President Trump.
- Political statements and actions by President Trump have directly influenced the value of TRUMP and MELANIA memecoins, causing significant price surges.
- The TRUMP memecoin experienced a substantial jump of up to 30% after Trump’s positive remarks on a trade deal with China, demonstrating its sensitivity to political sentiment.
- A presidential pardon for former Binance CEO Changpeng Zhao, coupled with past rumors of financial interests, also contributed to market activity and interest in related crypto assets.
On Monday, the official TRUMP memecoin had a remarkable run. It jumped by as much as 30% in a single day. The token, which started around $6.20, climbed above $8. By late afternoon, it settled at $7.52, according to The Block’s price data. This kind of upward move hadn’t been seen in months, not since a period of market swings in the spring.
What sparked this sudden climb? President Trump’s words. Hours before the price surge, he spoke about an upcoming trade deal with China. “I have a lot of respect for President Xi, and we are going to come away with the deal,” President Trump stated Monday morning. It was a clear signal, and the market listened.
This positive market reaction stands in stark contrast to earlier this month. The TRUMP memecoin had dropped significantly then, falling to about $5.40. That dip followed President Trump’s announcement of retaliatory tariffs on China. The entire crypto market felt the sting, tanking over 9% after those tariffs were revealed. It shows how sensitive these assets can be to political winds.
The TRUMP token, built on the Solana blockchain, saw its trading volume pass $1 billion on Monday. That’s a serious amount of activity. Binance, a major centralized exchange, handled nearly 13% of all TRUMP trading. The coin now holds a market cap of over $1.5 billion. These are big numbers for a memecoin, no matter how you slice it.
Not to be outdone, the official MELANIA memecoin also saw a significant boost. Inspired by First Lady Melania Trump, its price rose over 45% on Monday. It reached nearly $0.15. It seems the political sentiment lifted both boats.
The market’s enthusiasm wasn’t just about trade talks. Another major event likely played a part. President Trump had pardoned former Binance CEO Changpeng Zhao just days before. This pardon, coming after a year of strengthening ties between President Trump and Zhao, certainly caught the crypto world’s attention.
You might wonder, what does a presidential pardon have to do with a digital coin’s value? Well, in the crypto world, connections, perceived or real, often spark interest. The market often tries to connect the dots, even if those dots are spread far apart.
Before the pardon, whispers circulated. The Wall Street Journal reported that World Liberty Financial, a DeFi project backed by President Trump, had shown interest in buying a stake in Binance.US. World Liberty quickly denied this claim. But then, a month and a half later, an Abu Dhabi investment firm, MGX, announced a $2 billion deal with Binance. They planned to use World Liberty’s USD1 stablecoin for the transaction. It’s a tangled web, isn’t it?
President Trump defended his decision to pardon Zhao. He said the former Binance CEO was “persecuted” by the Biden administration. “He was recommended by a lot of people … A lot of people say he wasn’t guilty of anything,” President Trump stated last week. These comments add another layer to the story, suggesting a narrative of political intervention and support.
So, what does this tell us? Political figures, their statements, and their actions can have a direct, measurable impact on certain corners of the crypto market. Memecoins, often seen as lighthearted or speculative, become barometers of political sentiment. It’s a reminder that the digital economy doesn’t exist in a vacuum. It breathes the same air as global politics and public opinion. The question now is, how long will these political breezes continue to fill the sails of these particular tokens?
