Official Trump (TRUMP) has risen 57% since the start of August, outperforming Dogecoin (DOGE), up 24%, and Shiba Inu (SHIB), up 7%, as the broader cryptocurrency market recovers. TRUMP’s open interest, or the value of outstanding derivatives contracts, increased 57% over the past week to $188.72 million, according to Coinglass. Despite the short-term strength, TRUMP remains a long-term laggard: launched shortly before Trump’s presidential inauguration in January 2025, it briefly reached an all-time high before losing 97% of its value. The total memecoin market capitalization has climbed 31%, from $23.38 billion at the start of August to $30.64 billion.