Former U.S. President Donald Trump has entered the cryptocurrency market with a bang, launching his $TRUMP meme coin. In a dramatic debut, the token skyrocketed over 300% within hours, reaching a market cap of $8 billion and trading volumes approaching $1 billion.Announced just days before Trump’s inauguration for his second presidential term, $TRUMP has taken the crypto world by storm. The token’s initial value of $0.18 surged to $7.1 shortly after its launch, later peaking at $21.51—a staggering 231.61% increase, according to CoinMarketCap data.Built on the Solana blockchain, $TRUMP boasts a capped supply of 1 billion tokens, with 200 million coins initially released. The remaining supply will be distributed in phases over three years. Ownership is concentrated, with 80% of the tokens held by CIC Digital LLC, a Trump Organisation subsidiary, and Fight Fight Fight LLC, a newly established Delaware-based entity.Trump took to his platforms, Truth Social and X (formerly Twitter), to introduce the coin, branding it as his “official Trump meme” and encouraging followers to acquire tokens within a 48-hour window via the website gettrumpmemes.com. The coin draws inspiration from Trump’s rallying slogan, “Fight, Fight, Fight,” a phrase linked to his resilience after surviving an assassination attempt in July 2024.Social media erupted with reactions to the launch. Supporters hailed the move as a groundbreaking foray into digital assets, while sceptics questioned its legitimacy. Concerns have been raised about the concentration of ownership and the project’s credibility, particularly against the backdrop of Trump’s past ventures, which include eccentric products like high-priced watches and a cologne inspired by his survival of an assassination attempt.Despite the controversies, $TRUMP’s market performance has been undeniable. Early adopters reported massive profits, with one trader claiming a $20 million windfall within an hour.Trump’s engagement with cryptocurrency aligns with his long-standing “crypto president” image. During his first term, he championed digital assets, and the $TRUMP token signals his continued support for blockchain innovation. Many speculate that his upcoming term could further bolster the crypto industry.While the token’s explosive debut has captured headlines, its long-term impact remains uncertain. Experts warn that the hype surrounding $TRUMP could lead to volatility, but its success underscores the growing influence of meme coins and their ability to galvanise markets.The timing of the launch, just days before Trump’s January 20 inauguration, has only heightened interest and speculation about its broader implications for the crypto landscape.
Dom. Gen 19th, 2025
