$TRUMP Coin prices rise after Trump's promotion

President Donald Trump has stirred up debate by promoting his meme coin, $TRUMP, on Truth Social. He called it "the greatest cryptocurrency" in a post that raised its value significantly. Trump’s message on Sunday excited his supporters but drew backlash from many social media users. They accused him of using his influence for personal gain. The coin is part of the Solana blockchain network, with one billion coins created. Of those, 800 million are owned by companies associated with Trump, while 200 million were offered to the public earlier this year. After Trump's endorsement, the price of $TRUMP climbed from $10.99 to $12.24. Many commentators on X criticized the move, suggesting it looked like a "pump and dump" scheme. They pointed out that Trump seems to be promoting his own financial interests while in a position of power. In addition to $TRUMP, First Lady Melania Trump has also introduced a meme coin called $MELANIA, which is currently valued at $0.684.