President-elect Donald Trump announced that he would launch his own Solana coin, known as $TRUMP. This decision comes just three days before he takes office.
“My NEW official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump community. GET YOUR $TRUMP NOW,” his statement on X read.
The news has since gone viral on X, attracting the attention of hundreds of people. Some users couldn’t help but point out that Trump’s latest move might just be a repeat of what happened to Haley “Hawk Tuah” Welch. The latter is known for launching its own coin, although it completely collapsed within hours of its release.
Here, for example, is how we reacted:
“hawk tuah 2.0.”
The reactions don’t stop there, as users are visibly full of opinions:
“Is Donald Trump… The Next President of the United States… On the Night of the Inaugural Crypto Ball… Flipped a Coin… Either This Is the Greatest Hack Ever or It Will Only Get More This whole cycle is ridiculous. I don’t know what to believe anymore. » pointed out one user.
“Fantastic, Mr. President. You should make Captain America memes of yourself. I think you deserve to be associated with such an amazing comic book hero since you’re literally here to fight all the bad guys.” ” someone else suggested jokingly.
“I have no idea about memecoins but I think it’s time to start,” » another said.
The online scores had a lot to say, although many were under the impression that Donald Trump’s X account may have been hacked:
“It would be better if the account was hacked”, » someone asked.
“Even the crypto bros are shaking their heads. It’s going to be a fun year,” » pointed out another, although sarcastic.
“3 hours ago and I’ve already missed something. Buy now and treat yourself”, yet another echoed.
Netizens were visibly baffled upon hearing the news, with some suggesting it could even be a scam. Others, however, congratulated the next president, pointing out that he has not yet been sworn in and is already making progress.
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By Decrypt, Upon the launch of the same coin, Degen traders wasted no time in buying, increasing trading volume by hundreds of millions of dollars. Nevertheless, security experts remain vigilant regarding cryptocurrency. However, given that the news came from an official Donald Trump account, it seems less likely that the president-elect’s account was hacked.
Following the announcement, the value of the meme coin jumped 300% in the first three minutes, Crypto Briefing reported. Trading volumes soared to $1 billion, while token trading stood at $8.5 at press time. According to Crypto Timeswhile the coin initially had 200 million tokens upon launch, it is expected to skyrocket to 1 billion over the next three years.
The news first broke on Donald Trump’s official platform, Truth Social, where he urged everyone to go to GetTrumpMemes, the meme corner’s official site. There, users would be allowed to purchase tokens.
Shortly after these announcements broke, Donald Trump announced on his own platform that he would nominate Peggy Schwinn as the new United States Deputy Secretary of Education.
Edited by Sangeeta Mathew