Trump Coin Surges Over 20% in Single Day as US Midterm Elections Approach

TradingKey - Catalyzed by US midterm election hype, Trump coin surged over 20% again today.

On August 28, U.S. President Donald Trump's official cryptocurrency TRUMP surged over 20% intraday, briefly touching $2.9 before pulling back to $2.75. Last Saturday (August 22), the TRUMP token spiked by over 90% during intraday trading, reaching a peak near $3.68 and setting a new five-month high.

TRUMP price chart, Source: CoinMarketCap

As the 2026 U.S. midterm election (November 3) draws closer, political-themed tokens have once again become the focus of capital in the crypto market. Among them, Trump-related concept coins such as TRUMP, MAGA, and PEOPLE have all shown unusual movements recently, with their core momentum driven by political hype catalysts and capital speculation in the derivatives market.

Although midterm election expectations have driven a recovery in TRUMP's price, official unlocks and sell-offs remain the main suppressing force on price gains, so investors must remain cautious. Right during this rally, nearly 4 million TRUMP tokens were transferred to OKX via BitGo, followed by a sell-off of over $1 million at an average price of $2.68, cashing out nearly $3 million.