On January 18, 2025, President-elect Donald Trump launched a new cryptocurrency called $TRUMP, just days before his inauguration. The coin was announced through posts on his Truth Social and X (formerly Twitter) accounts, promoting it as his “official Trump meme” and encouraging followers to join the “Trump Community.”
Key features of $TRUMP
- Built on the Solana blockchain
- Total supply capped at 1 billion tokens
- Initial release of 200 million tokens
- Remaining tokens to be distributed over three years
- 80% of tokens allocated to creators and CIC Digital LLC
Market performance
The $TRUMP coin experienced an explosive debut:
- Surged over 4,200% within hours of launch
- Reached a market cap of $14.5 billion
- Trading volume exceeded $1 billion
- Price increased from $0.18 to $7.1, later peaking at $21.51
Controversy and skepticism
The launch of $TRUMP has sparked debates and raised concerns:
- Initial speculation about potential account hacks
- Questions about the timing, just before Trump’s inauguration
- Ethical concerns due to Trump’s political position
- Skepticism from crypto experts about the project’s legitimacy
Broader implications
The $TRUMP meme coin launch has potential ramifications for:
- Cryptocurrency regulations
- Trump’s stance as a “crypto president”
- The ongoing SEC vs. Ripple lawsuit
- The intersection of politics and digital assets
Investor reaction
While some early investors reported significant profits, experts warn about the high risks associated with meme coins, especially for those unfamiliar with cryptocurrency trading.
This development highlights the growing influence of meme coins in the crypto market and raises important questions about the future of digital assets in relation to political figures and regulatory frameworks.
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