The official Trump meme coin (TRUMP) saw a 10% surge after South Korea’s largest crypto exchange, Upbit, announced it would be adding the token to its platform.
Upbit is set to launch trading support for TRUMP on February 13 at 18:00 KST, nearly a month after its competitor Bithumb listed the meme coin. According to the official notice, users can begin depositing and withdrawing TRUMP two hours after the announcement, approximately 30 minutes before trading officially begins.
The Solana-based meme coin will be available for trading against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT) markets.
TRUMP Sees 10% Price Increase After Upbit Announcement
Shortly after Upbit revealed its listing plans, TRUMP’s price spiked over 10%, according to data from crypto.news. The meme coin is currently trading at $16.96, with a market cap of approximately $3.4 billion.
Despite the recent jump, TRUMP has been on a downward trend, dropping more than 12% over the past week and nearly 40% in the past two weeks.
Trading Restrictions and Price Caps on Upbit
Upbit’s listing notice indicates that TRUMP will start trading at a base price between 22,435 KRW ($15.46) and 22,482 KRW ($15.49). Buy orders will be restricted for around five minutes after trading support begins, while all order types—except for limit orders—will be restricted for approximately one hour. Additionally, sell order prices are capped at a minimum of 10% lower than the previous day’s closing price.
TRUMP’s Volatile Market History
TRUMP made a dramatic entrance into the crypto market during the weekend before former President Donald Trump’s inauguration, briefly surpassing a $10 billion market cap within hours of launch. However, early traders quickly offloaded the token, causing its price to plummet from $39.63 to as low as $4.29 by January 18. While TRUMP has since rebounded, its market cap remains well below its initial peak.
As the meme coin continues to gain traction with major exchange listings, traders remain divided on whether TRUMP can reclaim its previous highs or if volatility will continue to define its journey.