President Trump’s Solana Meme Coin Is Hot Again, Jumping 46% Amid ‘Relief Rally’

President Trump’s official meme piece rallied over the past week, climbing 46% to reach a market cap of $1.67 billion. One analyst believes this could be the result of a “relief rally,” following the plethora of macroeconomic pressures that appear to be easing.

THE Solana the token has been on a downward trend since the crypto dinner held for major TRUMP holders in May, reaching an all-time low market cap of nearly $1 billion on October 10. This low came after Trump threatened to impose massive tariffs against China, leading to a major slowdown in the crypto and crypto markets. the biggest liquidation event in the history of cryptography.

Since then, more than two weeks later, TRUMP is up about 55%, according to CoinGecko. Trading volume has also skyrocketed over the past two days, from a typical daily figure of $200 million to $300 million to nearly $2.4 billion over the past 24 hours, according to CoinGecko.

Although there is “no clear catalyst” to TRUMP’s recent surge, said Jasper De Maere, office strategist at Wintermute. Decrypt that it makes sense for the token to pump now that these pressures are easing.

“As TRUMP remains central to the president’s broader ‘PolitiFi’ narrative, it is natural that the token would come under supply, especially after a period of sustained pressure, triggering a relief rally that attracts renewed spirit, trading activity, and upward price momentum,” De Maere explained.

On Wednesday, for example, the United States obtained a trade agreement with South Korea, which will see the two countries reduce their mutual tariffs. Likewise, on Sunday, the United States and China agreed on a framework for a potential trade deal.

This follows Trump’s threat to impose 100% tariffs on Chinese goods earlier this month, sparking a $19 Billion Crypto Liquidation Cascade– the largest in crypto history.

Earlier this year, Trump republished an article from Newsmax which claimed that its official coin functioned as a way to track the president’s performance, as an alternative to polls and approval ratings. As such, the token’s recent slide may have been linked to investors becoming tired of Trump’s trade wars, but it has since risen as those concerns have begun to fade.

Likewise, in the prediction market MyriadTrump’s approval rating plummeted from 50.8% to 35.6% following a cascade of record selloffs. Since then, the president’s approval rating has continued to climb, now sitting at 49.2%, reflecting the rise of TRUMP’s meme corner. (Disclosure: Myriad is developed by Decrypt(the parent company of Dastan.)

Additionally, there has been a flurry of Trump-related crypto news recently. On Tuesday, Trump Media announced it would launch a prediction market called Prediction of the truth in collaboration with Crypto.com. The platform will allow users to bet money on sporting events, elections and other events.

Additionally, Trump-backed World Liberty Financial announced Wednesday that it would begin distribute 8.4 million WLFI, worth approximately $1.2 million, to early adopters of its $1 stablecoin. World Liberty Financial added that “this is just the beginning” and that its “points program” “will continue to expand.”

Wintermute’s De Maere suggested that the two announcements may also have “triggered a speculative rally”, as TRUMP rose 22.8% to $8.45 per token in the last 24 hours.

Still, TRUMP remains down 88.6% from its all-time high of $73.43, set just days after its launch.