The price of the Official Trump cryptocurrency is climbing again, shaking off yesterday’s sell-offs and riding a fresh wave of investor enthusiasm. The newly launched meme coin has jumped 6.5% in the past 24 hours, outpacing gains in Bitcoin (+2.7%) and Ethereum (+2.2%), as the broader crypto market trends upward.
Investors are linking today’s rally to the Senate’s confirmation of Scott Bessent as Treasury Secretary in a 68-to-29 vote. Bessent’s past support for cryptocurrency is fueling speculation that the industry could see more favorable policies under his watch. At the same time, traders are looking for a rebound after concerns about DeepSeek R1 AI software and macroeconomic risks triggered a downturn earlier in the week.
Bessent’s Confirmation Sends Crypto Markets Higher
Scott Bessent, a billionaire hedge fund manager, is now the new U.S. Treasury Secretary, and his stance on digital assets is catching the attention of crypto investors. Unlike past Treasury officials who have been skeptical of crypto, Bessent has previously expressed support for digital currencies and blockchain innovations.
His confirmation follows President Trump’s January 23 executive order establishing an advisory group focused on cryptocurrencies. The panel, which Bessent was already a part of, is expected to deliver a verdict on a U.S. digital assets reserve within 180 days.
The connection between Bessent and the Official Trump cryptocurrency has fueled speculation that the meme coin could benefit from potential pro-crypto policies in the coming months. It also helps that Trump himself has been increasingly vocal about digital assets, a shift from his earlier dismissive stance on cryptocurrencies.
Official Trump Token Rides the Volatility Wave
Since its launch on January 17, the Official Trump token has been a rollercoaster ride for investors. The coin soared 350% in its debut, but it has also dropped nearly 63% from its peak. These dramatic swings are typical of meme coins, but the political ties to a sitting U.S. president add an extra layer of unpredictability.
The latest price surge comes after the token suffered from the broader market slump triggered by fears of a more hawkish Federal Reserve and the launch of the DeepSeek R1 AI model. Traders now appear to be regaining confidence, pushing the meme coin higher in a relief rally.
One thing is certain: volatility is here to stay. Unlike Bitcoin or Ethereum, which are often treated as long-term stores of value, meme coins tend to move based on hype, headlines, and sentiment shifts. In this case, the confirmation of a crypto-friendly Treasury Secretary is enough to send prices higher—at least for now.
What’s Next for the Official Trump Crypto?
Looking ahead, there are several factors that could influence the Official Trump token’s price:
- Political Developments: The coin is directly linked to Trump, meaning any policy moves, statements, or controversies surrounding his administration could impact its valuation.
- Crypto Market Trends: While the token is unique, it still follows the broader crypto market. If Bitcoin and Ethereum continue rising, it could provide additional momentum.
- Macroeconomic Conditions: Inflation, Federal Reserve interest rate decisions, and regulatory policies will play a role in shaping investor sentiment.
- Regulatory Scrutiny: Given its ties to a sitting president, the token could attract extra attention from lawmakers and financial watchdogs.
Investors should be aware that speculative assets like meme coins come with major risks. While today’s rally is a win for holders, the extreme price swings make this an unpredictable and high-risk investment.
