TRUMP: Memecoin of disconnected U.S. president rises

The memecoin Official Trump (TRUMP), named after U.S. President Donald Trump, is showing a bullish stance after a hefty price drop in recent weeks and appears poised to form a bottom. The currency saw a 10 percent rise in value in the last 24 hours, marking an attempt at recovery.

From a low of US$14.29, the currency has risen 15 percentage points to a current rate of US$16.36. Despite this rise, the currency is still trading 78 percent below its record high. One possible reason for the recent price increase is the introduction of memecoin on the South Korean crypto exchange Upbit.