Meme Coins Go Mainstream as Politics, Billionaires, and ETFs Fuel TRUMP's Rise

California Governor Gavin Newsom has hinted at the creation of a meme token as part of a satirical financial campaign targeting former U.S. President Donald Trump, signaling the growing influence of politically themed digital assets in the cryptocurrency market. While no formal announcement of the token has been made, Newsom’s public remarks have sparked speculation about the nature and purpose of the project. The move aligns with the broader trend of meme tokens gaining traction, with the TRUMP memecoin already having attracted significant attention and investment.

The TRUMP memecoin, which launched in early 2025 on the Solana blockchain, has drawn high-profile backing and substantial market participation. Crypto billionaire Justin Sun, known for his involvement in the TRON network, has committed to purchasing $100 million in TRUMP tokens, doubling his previously reported stake. This investment, along with strategic partnerships such as the alignment of World Liberty Financial with TRUMP, has contributed to a surge in trading volume and market interest. In recent months, the token has experienced notable price fluctuations, with a 9% increase following the Nasdaq Bell ceremony and a 40.83% rise in value over the past year despite broader market declines in the meme coin sector.

According to recent data, the TRUMP token currently trades at $8.84, with a market capitalization of $1.77 billion and a fully diluted valuation of $8.87 billion. Over the last 24 hours, the token recorded $693.85 million in trading volume, with approximately 1,600 traders participating in the market. The token’s circulating supply is 200 million TRUMP out of a total supply of 1 billion, indicating that the token remains in a relatively early stage of its distribution cycle. Notably, a significant token unlock in mid-July—releasing 45% of the supply—initially triggered fears of a sell-off but was somewhat mitigated by continued investor interest and strategic buy-ins from major players.

The token’s trajectory has been further shaped by political developments. For instance, the token’s performance saw a brief stabilization after the Trump-Putin Alaska summit, and in late June, Eric Trump, son of the , announced that World Liberty Financial would acquire a substantial position in TRUMP memecoin as part of its treasury holdings. However, the Trump family’s broader crypto ventures have not been without challenges. A dispute between the Trump memecoin team and World Liberty Financial led to the cancellation of plans for an “official” crypto wallet, highlighting the complexities of managing a politically affiliated digital asset.

The regulatory landscape is also evolving. In February 2025, the U.S. Securities and Exchange Commission (SEC) clarified that meme coins are not classified as securities, potentially reducing the regulatory hurdles for new products. This development has prompted multiple firms—including Canary Capital Group, Tuttle, Osprey Funds, and Rex Shares—to file for TRUMP-themed exchange-traded funds (ETFs). The proposed Canary TRUMP ETF aims to offer traditional investors an accessible entry point into the TRUMP token market, a move that could further drive institutional interest and liquidity.

While the TRUMP memecoin has demonstrated resilience and growth, analysts caution that its long-term success remains uncertain. The token faces inherent volatility due to its meme-based nature and dependence on political and social media dynamics. Furthermore, the token's performance has lagged behind major cryptocurrencies like Bitcoin and Ethereum, with a 22.38% underperformance against BTC over the past year. Nevertheless, the TRUMP token remains a focal point in the memecoin space, ranking as one of the most popular and widely discussed tokens on platforms like Twitter and Reddit, with ongoing discussions about its future in the broader crypto ecosystem.

Source: [1] OFFICIAL TRUMP Price, TRUMP Price, Live Charts, and ... (https://www.coinbase.com/price/official-trump) [2] TRUMP ETF Filing Marks Latest Meme Coin Investment Push (https://coinmarketcap.com/academy/article/trump-etf-filing-marks-latest-meme-coin-investment-push)