What is Donald Trump’s meme coin?
Trump is TRUMP! Yes, it is simple and easy to understand. Have a look at the historical of this meme coin before any trading decisions. Because meme coins are a type of cryptocurrency that started as jokes or memes but gained popularity through social media or any events.
TRUMP (OFFICIAL TRUMP) is the official meme coin of US President Donald Trump, launched on the Solana network on the Friday evening of 17 January 2025 (US Time). TRUMP was launched ahead of his Presidential inauguration on 20 January, and it quickly became Solana’s largest meme coin over the weekend, shattering many of Solana’s records in the process. TRUMP grew to over $13 billion in market capitalization, becoming Solana’s largest memecoin in under 2 days. TRUMP’s launch spurred the SOL token to all time highs while attracting over 200 thousand new users to the network. (CoinGecko)
Here is NOT a financial advice for traders to participate and purchase in the TRUMP token or any else.
A New Wave of Memecoins?
Memecoins aren’t exactly new, but we’re seeing a first: a politician has officially launched one! While we’ve seen celebrity-backed memecoins like IGGY before, Donald Trump’s new coin could kick off a trend of political memecoins. If successful, it might lead to more politicians jumping on the bandwagon, making the phrase “vote with your wallet” take on a whole new meaning. Imagine supporting your favorite political figures through their own memecoins!
Melania Trump’s Surprise Move
On January 20, Melania Trump, Donald Trump’s wife, surprised everyone by launching her own memecoin, MELANIA, right after TRUMP. This raised a lot of eyebrows, especially since reports say that 89% of the token’s supply is controlled by a single wallet.
Speculation suggests the Trump family was taken aback by the success of TRUMP and wanted to replicate it with MELANIA. However, this led to some chaos in the market. The price of TRUMP plummeted from $70 to $40, while SOL dropped from $200 to around $250 on exchanges, creating a wild mismatch that triggered a frenzy of arbitrage trading. This caused heavy congestion on the Solana network, with gas fees skyrocketing, and many users found themselves unable to sell.
What’s Next?
It’s still unclear whether there will be any legal issues with a politician launching and promoting a crypto memecoin, as there’s no precedent for this. So far, US regulators haven’t raised any concerns, even with the token launching over the weekend. If this was part of Trump’s marketing strategy, it’s definitely working—he’s getting a lot of global press attention ahead of his presidential inauguration on January 20, 2025.
For those who own or are thinking about buying the TRUMP token, it’s wise to be cautious given the unusual circumstances. That said, the impact of the TRUMP token on the Solana network has been mostly positive, with many praising Trump’s choice of platform for the launch.
Is that a $13 billion fund which contributed by friends of friends? Still wondering?
(collect & re-written)
