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- TRUMP meme coin skyrocketed 4,745% within hours, reaching a market cap of $8.83 billion.
- Unofficial Donald Trump-inspired Trump tokens plummet as funds shift to the new official token.
- TRUMP overtook BONK and PEPE, nearing Shiba Inu in the meme coin hierarchy.
U.S. President-elect Donald Trump has officially launched his meme coin crypto, dubbed the OFFICIAL TRUMP (TRUMP) token. This launch is seen as a bold move just days before his inauguration.
The announcement came hours ago through posts on both X and Truth Social. Donald Trump confirmed the release on both platforms and directed users to the official homepage for purchases.
Despite skepticism about potential account hijacking, consistent messaging across platforms and notable figures’ endorsements have dispelled doubts. Polymarket estimates a mere 10% likelihood of account hijacking.
Crypto influencer Nick O’Neill has verified the token’s authenticity. He shared that he invested during a Donald Trump-hosted crypto party featuring a live performance by Snoop Dogg.
In a statement on Truth Social, Trump declared, “I introduce my official meme coin, ‘TRUMP.’ It can be purchased through the homepage.”
According to the website, TRUMP is built on the Solana (SOL) blockchain. It has an initial issuance of 200 million tokens and a capped total supply of 1 billion tokens to be released over three years.
The TRUMP token’s launch has been nothing short of explosive. Within hours, its price skyrocketed to an all-time high, fueled by intense market interest.
The meme coin was trading at approximately $8.83 on DEXTools. That represented an astounding 4,745% increase from its initial listing price of $0.1824.
This meteoric rise has propelled its market capitalization to a staggering $8.83 Billion. Moreover, it placed TRUMP in the spotlight as one of the most talked-about assets in the crypto market.
TRUMP Meme Coin: A Disruptive Force in the Crypto World
Dogecoin (DOGE) has long reigned supreme in the high-risk world of meme coin cryptocurrencies. It boasts a $60 Billion market cap and endorsements from high-profile figures like Donald Trump and Elon Musk.
Shiba Inu (SHIB) and Pepe (PEPE) are close on their heels, with market caps of $13 Billion and $8 Billion, respectively. BONK, the fourth-largest meme coin by market cap on CoinMarketCap, stands at $2.4 Billion.
However, the launch of Donald Trump’s TRUMP meme coin has dramatically reshaped the landscape. Within mere hours, TRUMP surged past BONK and PEPE, becoming one of the largest meme coins by market cap.
Its current capitalization of $8.83 Billion places it on the brink of overtaking Shiba Inu. This milestone would further cement its meteoric rise in the meme coin sector.
TRUMP has grown as a disruptive force in the meme coin hierarchy. It has garnered significant attention across social and crypto platforms.
Traders Who Bought On This Opportunity Are Having Wallet On Fire
The frenzy surrounding Donald Trump’s official new TRUMP meme coin has created a seismic shift in the market. Investors are abandoning unofficial Trump-inspired meme tokens and redirecting their funds toward the newly launched token.
This mass activity has triggered dramatic sell-offs across several non-official Trump tokens. For instance, the TRUMP/USDT trading pair experienced a staggering crash. It plunged from nearly $15 to below $3.50 within hours.
Similarly, STRUMP/USDT saw a severe dip, falling from $0.0043 to $0.0030. At the same time, the TREMP/USD pair dropped from $0.18 to below $0.15.
The red tide shows no signs of stopping as investors scramble to liquidate their positions. That was driven by FOMO surrounding the official token.
Meanwhile, early adopters of the new TRUMP token are reaping astronomical rewards. Notably, attending Trump’s crypto ball, Nick O’Neill proudly declared himself the wealthiest attendee. He credited his foresight on social media platforms for his early investment.
In another striking example, a post revealed on X that a trader had turned a $1.09 Million investment into $30.8 million within hours. He did it by purchasing 5.97 million TRUMP tokens at launch.
The trader, now sitting on nearly $30 Million in gains, has yet to sell. This signaled his belief in even greater future returns.
The meme coin market is undergoing rapid consolidation as the official TRUMP token continues to dominate the spotlight. Speculative funds are flooding into what many regard as the next great opportunity.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
