President-elect Donald Trump reportedly launched a new memecoin based on Solana today at the start of Asian trading hours. Notably, the launch of the token was a surprise without any prior launch details. The new TRUMP memecoin debuted on the market just 3 days before he was sworn in for his second term in the White House.
With this, the social trend of this memecoin has skyrocketed. Additionally, the crypto community has been fleeing the internet with questions like “How to buy Trump Coin?” and “Where to buy Trump Coin?” In this article, we learn about the Tokenomics and fundamentals of the latest viral memecoin based on Solana.
Official announcement from Donald Trump!
Following the news, traders immediately piled into TRUMP coin. This allowed memecoin to experience hundreds of millions of dollars in trading volume in the first few hours. While some thought it was a wake-up call, Trump’s “X” and “Truth Social” messages have dispelled any doubts and it appears to be a legitimate launch of Trump coin.
The launch confirmation expressed immediate excitement, confusion and skepticism in the cryptocurrency space. The main reason is that this is a familiar feature of many celebrity scams hitting the market recently.
Top TRUMP Token Holders!
TRUMP’s latest coin has already reached a market cap of $4.15 billion. With a 24-hour trading volume of $3.31 billion, this meme coin has already soared over 185% from its all-time low (ATL) of $6.24. This allowed it to obtain the 41st position in the global list of cryptocurrencies.
According to the latest reports, the top 5 holders are responsible for a total of 85.71% of the entire supply. Additionally, the largest account holds 80% of the supply valued at approximately $10.68 billion. The combined valuation of 85.71% stands at $11.444 billion.
How high will the Trump price go?
Given the current market sentiment and the symbolic characteristics of the project, it is currently under the market radar and is being closely monitored by leading marketers. Fundamental updates and white paper releases could drive the TRUMP memecoin price higher in the coming times.
However, a promotional strategy or pump and dump scheme cannot be cheated as the crypto market has witnessed many such events over the past few years. Such a case could potentially pull the price towards a new ATL in a short period of time.
FAQs
The Trump memecoin can be purchased by trading RAY and JUP tokens on the Solana chain.
TRUMP is a recently launched Solana-based memecoin backed by President-elect Donald Trump. It attracted a huge amount of attention due to its surprise launch and a price hike of over 185%.
It is too early to predict the reliability of memecoin. Investors are advised to await the release of white papers and other notable updates.