Eric Trump announced that World Liberty Financial (WLF) — the Trump family’s crypto-backed platform — will acquire a “substantial position” in the $TRUMP memecoin, yet the coin’s price reaction has been underwhelming.
In a June 6 post on X, the son of U.S. President Donald Trump wrote:
“I am proud to announce the $TRUMP Meme Coin has aligned with @WorldLibertyFi.” He added that WLF plans to hold a large stake in $TRUMP as part of its long-term treasury strategy.
Price spike fades quickly
Following Eric Trump’s announcement, the Official Trump ($TRUMP) token briefly rose 6.4% to $10.41 before pulling back to around $10.10. At the time of publication, it remains the 45th largest cryptocurrency by market cap, currently valued at $2.03 billion, according to CoinMarketCap.
Despite the news, the token is still down 8.65% over the past 30 days, and some crypto analysts are skeptical about the lack of bullish response.
“The coin hasn’t pumped on this news — not a good sign at all,” crypto commentator Pluid posted on X.
Controversy over Trump wallet delays momentum
The lukewarm price action may also be linked to recent controversy surrounding the now-canceled Trump Wallet launch. Earlier this week, NFT marketplace Magic Eden announced a partnership with the memecoin team to release the “Official $TRUMP Wallet.”
However, Eric Trump quickly refuted the claim, calling the wallet unauthorized and warning Magic Eden:
“Be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.”
Following backlash, Eric clarified that although the memecoin wallet won’t proceed, the team remains focused on “building the most exciting MEME on earth — $TRUMP.”
Donald Trump Jr. later stated that a new official wallet from the Trump family’s crypto platform is still in the works.
Big names, little impact?
TRUMP memecoin had previously drawn attention when the top 220 holders gathered for a private dinner at Trump National Golf Club on May 23.
Still, despite major political figures backing the project and a growing list of crypto endorsements, the token’s failure to rally strongly after Eric Trump’s announcement raises questions about its momentum — especially in a meme coin market driven by speculation and hype.