Eric Trump announced a partnership with the meme coin project TRUMP and WLFI, planning to hold a significant amount of TRUMP tokens in a long-term treasury. Initially, the announcement led to a 6.4% spike in TRUMP's price. However, the gains were short-lived as the price quickly retraced, prompting skepticism from the crypto community about the effectiveness of the announcement in driving sustained price growth. Analyst Pluid noted that the lack of a lasting price increase is not a positive indicator for the project.