On 17 January 2025, Donald Trump launched his $TRUMP meme coin, and within hours, it took the cryptocurrency world by storm. The coin, built on theSolananetwork, saw an astonishing surge in value, with its market cap reaching a staggering $14.5 billion within just a couple of hours of its debut. Initially priced at $0.18, the coin’s value shot up to $7.1 before stabilising at $21.51 by 6:21 PM IST, marking an incredible 231.61% increase, according to CoinMarketCap data.”My NEW Official Trump Meme is HERE!”Trump’s introduction of the $TRUMP token was made through his Truth Social platform, where he announced: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The announcement quickly gained traction, with Trump urging followers to grab tokens via the official website, gettrumpmemes.com, before the 48-hour claiming window closed.Explosive Growth and Early ProfitsThe launch triggered a massive trading frenzy. Within just one hour, the trading volume hit nearly $1 billion, and early investors saw substantial profits. One trader, who bought nearly 6 million $TRUMP coins for about $1.1 million using USDC, watched their investment soar to $23 million in just 90 seconds. Despite selling a small portion, the trader was left with 5.43 million coins, still showing a profit of over $20 million, according to reports from Lookonchain.The coin’s rapid rise was equally impressive in terms of its market capitalisation, which reached $7.7 billion within two hours of launch. This meteoric rise has ignited a frenzy on social media platforms, with discussions about its legitimacy, its value, and whether it signals a new chapter in Trump’s relationship with cryptocurrencies.The Token’s Structure and OwnershipThe $TRUMP token is capped at a total supply of 1 billion coins, with an initial release of 200 million. The remainder will be distributed over the next three years. Despite the token’s widespread attention, the ownership of $TRUMP remains highly concentrated. Approximately 80% of the coins are held by CIC Digital LLC, a subsidiary of the Trump Organisation, and Fight Fight Fight LLC, a newly established company based in Delaware. The token’s value ranged between $17 and $18 during early trading, with these figures fluctuating as the market stabilised.Controversy and Scepticism Around the CoinThe launch of $TRUMP has not been without controversy. Skepticism remains high due to the coin’s concentrated ownership structure, which raises questions about centralised control and its potential use for political purposes. The official website denies any political affiliations, yet the timing of the coin’s release—just days before Trump’s second presidential term—has led some to speculate about underlying political motives.Adding to the scepticism are concerns surrounding the security of accounts on X (formerly Twitter) and recent instances of account hacks. Furthermore, Trump’s history of unconventional bus
Sab. Gen 18th, 2025
