Rumors are spreading on social media about US President Donald Trump endorsing Pepe coin, through his recent post on Truth Social. This was enough to send the meme coin soaring high, with daily trading volumes skyrocketing to $1.63 billion. Pepe Coin price has surged by 7% in the past few hours. Whether it’s just a mere coincidence or not, President Trump is known for supporting meme coins.
U.S. President Donald Trump sparked market excitement on Wednesday after sharing a photo featuring PEPE meme on Truth Social. The post immediately caught the attention of traders, leading to a strong surge in PEPE coin’s value shortly afterward.
The meme coin’s rapid response to the post has fueled speculation about the potential for a broader rally. Market analysts are now closely monitoring whether this momentum will sustain.
The social media was quick to catch up on to this, with influencers sharing their views on the US president’s tweet. Crypto influencer Evan Luthra tweeted, suggesting is it really something big upcoming or just a glitch.
With over 60% surge on the monthly chart, the PEPE Coin price is now retesting critical resistance at $0.000016. Today’s 5% pump comes with its daily trading volume surging 37% to $1.63 billion, showing strong traders’ interest. Also, the meme coin’s market cap is up over $6 billion. Also, the Coinglass data shows that the PEPE futures open interest is up 11% to $667 million.
President Donald Trump is personally into meme coins, and launched the Trump Official (TRUMP) meme coin earlier this year. Recently, he also hosted the gala Trump Dinner for all the holders of TRUMP Coin, wherein the meme coin surged in the past week but lost steam soon.
Apart from the Trump FOMO around the frog-themed meme coin, the PEPE whale activity has also been on the rise recently. Last week, the meme coin came into investors’ radar as crypto trader James Wynn initiated a 10x leverage long bet on PEPE, but folded it soon after with no major profit booking. Interestingly, the trader made a massive $87 million profit during last month’s crypto market surge but lost all of it just over the past week.
Some whale entities also transferred over 2 trillion PEPE tokens from Bybit to an unknown wallet. This shows that enough demand persists for the meme coin, with the possibility of the price rally to continue.
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