American Coin experienced a surge amid speculation that Donald Trump may be planning to introduce a meme coin inspired by the United States.
After remaining relatively stable for three months, the Solana-based meme coin known as ‘American Coin’ (ticker: ‘USA’) created a significant spike in value on January 19, escalating to $0.0000254, an increase of 405% from an intraday low of $0.00000503, with its market capitalization approaching $300 million during that period.
The substantial rally of American Coin (USA) occurred in a high-volume trading setting, with its daily trading volume escalating by over 550% to around $300 million. This surge in trading activity sparked speculation-driven price increases, propelling the meme coin to trending status on platforms like CoinGecko.
Although the meme coin project has no affiliation with the United States, the significant gains observed on that Sunday were largely attributed to community members reporting that incoming U.S. President Donald Trump might be contemplating the launch of a USA meme coin, possibly by the end of the week.
It’s worth noting that a coin with a similar name, USA coin, was already available on the market before these rumors. The speculation regarding a potential presidential connection generated confusion and heightened interest in the token, even though it was not officially associated with any initiative or the anticipated launch of a new meme coin.
However, the excitement was short-lived, and the token plummeted after Eric Trump, the second eldest son of the future President, dismissed the rumors, clarifying that USA coin had no ties to the Trump family.
As a result, USA coin fell over 62% shortly thereafter, erasing nearly all gains accrued by January 20. At the time of writing, the altcoin was trading at $0.00000964, with its market cap dropping below $129 million.
Such fluctuations are typical in hype-driven meme coins, a trend also observed in recently launched meme coins associated with the Trump family, including the Official Trump (TRUMP) token and Melania Meme (MELANIA).
On January 17, Trump introduced the TRUMP meme coin, which surged over 1,000% within the following day, elevating its market capitalization to over $14.5 billion. Meanwhile, MELANIA also exhibited increased volatility post-launch, initially rising nearly 75% to a peak of $13.04 within two hours, before declining to $7.43. It later bounced back above $13 and eventually stabilized at over $11.
As of the time of writing, these meme coins were trading 21% and 10% lower, respectively, compared to their post-launch peaks.
