President Donald Trump called the Official Trump memecoin “so cool” and “the greatest of them all” on Truth Social, briefly boosting its price and trading volume.

This is one of the few times the president has directly referenced cryptocurrency.

Following the post, the token’s price jumped 11% before settling at a 5% overall gain, adding US$100 million to its market cap.

Launched in January, the token has seen mixed reactions, while a related memecoin tied to Melania Trump has declined by 4.8% in 24 hours.

Trump said he does not closely follow the token’s performance but has heard it is doing well.

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