- Trump’s memecoin endorsement only led to a modest 10% gain, signaling waning market enthusiasm
- The memecoin frenzy of 2021 feels distant as market sentiment grows cautious and volumes stay low
In a landscape once ruled by hype and hashtags, even a presidential endorsement no longer guarantees fireworks.
U.S. President Donald Trump’s backing of his memecoin Official Trump [TRUMP] barely moved the needle — delivering a modest 10% gain that paled in comparison to the explosive rallies of 2021.
The subdued reaction highlights a deeper problem in the market, where enthusiasm appears to be drying up, and trading volumes remain stubbornly thin.
Market shrugs as $TRUMP crypto endorsement rocks the boat
On the 23rd of March, President Trump posted on Truth Social, saying:
Source: Truth Social
The post sent the TRUMP token surging 12% within an hour, briefly reigniting memecoin mania. But the market’s reaction quickly turned skeptical. While some cheered the endorsement, others called it “embarrassing” for a sitting president to promote what critics label a scam coin.
Source: TradingView
Adding to market concerns is the upcoming token unlock on April 18, releasing nearly 40 million TRUMP tokens worth approximately $485 million. This represents 4% of the total supply and has traders anticipating a potential price dump.
Many are debating whether this marks the beginning of a memecoin supercycle or simply another political pump-and-dump scenario.
Source: X
The rise and fizzle of memecoin mania
Back in 2021, a single tweet from Elon Musk could have sent Dogecoin [DOGE] flying 400% in a day. Shiba Inu [SHIB], Floki [FLOKI], and countless others followed, riding the wave of speculative euphoria that turned memes into millionaires.
It was a time when community clout outweighed fundamentals, and virality trumped utility. But that era now feels distant.
Today’s 10% pump from a sitting U.S. President barely raised eyebrows. The shift reflects a market that’s grown more cautious – or perhaps more disillusioned. The memecoin frenzy of 2021 thrived on novelty and stimulus-fueled liquidity.
In 2025, with tighter capital and fewer wide-eyed retail traders, the magic seems to be fading.
10% pump: Market maturity or sentiment collapse?
Trump’s post drew attention, but the market response was lukewarm. A 10% gain, impressive in today’s liquidity-thinned market, would have been insignificant during the 2021 bull run.
This sparked debates about whether the reaction reflects rational investor behavior or apathy.
Some analysts argue the muted response indicates a healthier, less speculative market environment. Others believe it signals a loss of risk appetite—and the excitement that once defined the space.
Trading volumes remain low, and memecoins, once the pulse of retail enthusiasm, now face skepticism, regulatory scrutiny, and selloffs triggered by token unlocks.
If this is market maturity, it’s a sobering one.
Is the memecoin craze officially over?
The memecoin ecosystem has transformed from grassroots chaos to influencer-driven coordination, often veering into cynical cash grabs.
TRUMP, despite its patriotic branding, is just one of many tokens leveraging celebrity attention. Similar trends have emerged with tokens linked to politicians, streamers, and even animals.
However, without compelling narratives or strong community support, even viral campaigns struggle to sustain momentum. Retail interest has waned, with many traders shifting focus to AI, RWA, or infrastructure plays offering better risk-reward opportunities.
The memecoin space isn’t dead—it’s quieter, more fragmented, and arguably more jaded. Its revival depends on what captures public interest next.
For now, Trump’s post falls short of reigniting the excitement.
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