“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 ad quickly gained traction, with Trump urging his followers to redeem tokens through the official website, gettrumpmemes.com, before the 48-hour claiming window closed.
Explosive growth and first profits
The launch sparked a massive sales frenzy. In just one hour, trading volume reached nearly $1 billion and early investors made substantial profits. One trader, who purchased nearly 6 million $TRUMP coins for around $1.1 million using USDC, saw his investment skyrocket 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 Lookonchain reports.
The coin’s rapid rise has been equally impressive in terms of market capitalization, which reached $7.7 billion within two hours of its launch. The meteoric rise has sparked a frenzy on social media platforms, with discussions over its legitimacy, its value and whether it marks the opening of a new chapter in Trump’s relationship with cryptocurrencies.
The structure and ownership of the token
The $TRUMP token is capped at a total supply of 1 billion coins, with an initial release of 200 million. The rest will be distributed over the next three years. Despite the widespread attention paid to the token, ownership of $TRUMP remains highly concentrated. About 80% of the coins are owned by CIC Digital LLC, a subsidiary of the Trump Organization, and Fight Fight Fight LLC, a newly formed company based in Delaware. The token’s value ranged between $17 and $18 in early trading, with these numbers fluctuating as the market stabilized.
Controversy and skepticism surrounding the play
The launch of $TRUMP was not without controversy. Skepticism remains high due to the coin’s concentrated ownership structure, raising questions about centralized control and its potential use for political purposes. The official website denies any political affiliation, but the timing of the coin’s release – just days before Trump’s second presidential term – has led some to speculate about underlying political motivations. Added to the skepticism are concerns about the security of accounts on X (formerly Twitter). ) and recent cases of account hacking. Additionally, Trump’s history of unconventional business ventures, such as $100,000 watches and attempted assassination cologne, has led some critics to question the credibility of the $TRUMP coin .
Trump’s pro-crypto stance and the future of the coin
Trump’s pro-crypto stance during his first term paved the way for $TRUMP coin. Supporters of the token see it as a continuation of his commitment to the cryptocurrency space, which could signal additional support for digital assets during his next term. Despite the controversy and questions over its long-term viability, the rapid increase in trading volume and value suggests that $TRUMP coin is a force to be reckoned with in the crypto world.
While the coin continues to gain traction, its future remains uncertain. Even though early earnings have been eye-catching, the stability and credibility of the market remains a matter of debate. The $TRUMP meme coin has certainly disrupted the cryptocurrency market, but it remains to be seen whether it will maintain its momentum in the months to come.