Trump Launches ‘TRUMP’ Meme Coin, Hits $8 Billion Market Cap in Under Three Hours
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Highlights:
- Trump launched the TRUMP meme coin on Solana, reaching a $8 billion market cap in under 3 hours.
- Speculations about the TRUMP coin’s legitimacy arise after recent social media account hacks.
- TRUMP transactions are booming, with investors making millions in profits despite doubts.
President-elect Donald Trump revealed the launch of Official Trump ($TRUMP), a meme coin built on Solana, on Friday. The token surged to an $8 billion market cap in under three hours, sparking concerns that Trump’s social accounts may have been compromised. Following the announcement, $TRUMP’s value soared over 300% within the first three minutes, with trading volumes nearing $1 billion, according to GeckoTerminal data. The token was priced at $14.6 at the time of reporting.
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In a Jan. 18 X post, Trump said, “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.” Trump shared the official Trump (TRUMP) memecoin on his Truth Social account as well.
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. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
The TRUMP meme coin can be purchased with either a debit card or cryptocurrency. Holding a TRUMP meme coin grants access to the Trump Meme Community, which promotes a culture of success and optimism. The token has a total supply of 1 billion, with 200 million available at launch. The remaining tokens will be gradually released over three years, with 80% allocated to the creators and CIC Digital.
Anthony Pompliano, CEO of Professional Capital Management, is excited about the debut of the TRUMP meme coin. He urged people to “buckle up,” claiming that the financial world is unprepared for the impact of this Solana-based token. Pompliano also pointed out that the coin reached a market cap of $8 billion within just three hours of its launch.
The incoming President of the United States just launched a meme coin days before his inauguration.
The market cap is almost $8 billion in less than 3 hours, which nearly doubles Trump’s net worth.
Financial markets are not ready for what is ahead — buckle up.
— Anthony Pompliano 🌪 (@APompliano) January 18, 2025
Doubts and Speculations Surround TRUMP Meme Coin Launch
Doubts have emerged regarding the authenticity of the announcements and the project, particularly following recent hacks targeting several X accounts. Shortly after these posts, Trump’s Truth Social account shared an update naming Peggy Schwinn as the new US Deputy Secretary of Education. Max Schwartman, CEO of BecauseBitcoin, posted on Jan. 18, saying, “If it’s a hack, then this is going to severely mute Trump’s bullishness on crypto right as he takes office (bearish).” He further noted that if the posts are genuine, this quarter is going to get chaotic.
I’m so confused by this… $TRUMP is sitting at 3B market cap. This must be a hack right? No way he just launched his own memecoin… right? Thoughts…👇
1). If it’s a hack, then this is going to severely mute Trumps bullishness on crypto right as he takes office (bearish)
— Max (@MaxBecauseBTC) January 18, 2025
Crypto commentator JRNY Crypto questioned on Jan. 18 why Trump’s advisors haven’t confirmed the legitimacy of the crypto project. He pointed out that a social media post alone isn’t enough if the posts are genuine. Crypto trader Edward Morra, also on Jan. 18, stated that the situation would “end badly” and likely cause a market sell-off ahead of the inauguration.
I think this $TRUMP meme coin will end bad in one way or another and lead into general market sell-off going into inauguration. Will turn out Trump was hacked or something like that. pic.twitter.com/gmEgTUJTb1
— Edward Morra (@edwardmorra_btc) January 18, 2025
TRUMP Token Transactions Soar as Investors Make Millions
TRUMP transactions are underway, with millions spent and earned by investors. 0xsun.sol, Founder of OxSun Group, reportedly made over $3.7 million. They bought 999,895 TRUMP tokens for 3,000 SOL ($653k) and later sold them for 3,616 SOL ($812k).
A trader purchased 5.97 million TRUMP with $1.1 million USDC. They later sold 543k TRUMP for $404k, making nearly $20 million in profit. The trader still holds 5.43 million TRUMP tokens. Despite initial speculation of a scam or joke, more TRUMP transactions continue to appear.
This guy must be kicking himself right now!
He sold 4.49M $TRUMP for $3.86M and now has only 30,000 $TRUMP($393K) left.
The 4.49M $TRUMP he sold was worth over $67M at the peak!
He could have made over $60M, but instead, he’s walking away with less than $3M.… pic.twitter.com/IxURP0FbLj
— Lookonchain (@lookonchain) January 18, 2025
Since the launch of the TRUMP memecoin on its network, Solana’s price has risen $8.8%, reaching $232 at the time of publication. The posts come just days before Trump’s inauguration as US president on Jan. 20. Trump is expected to sign an executive order making crypto a national priority, potentially upon his return to office.
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