In a surprising announcement just days before he takes the presidential oath, President-elect Donald Trump has launched a new cryptocurrency called $TRUMP. This digital coin, which rides the wave of the bouncing meme coin phenomenon, has quickly caught the public’s attention and created a buzz in both cryptocurrency and political circles.
The $TRUMP Surge
When the $TRUMP coin launched, it experienced astonishing growth almost immediately. In less than three hours, its value skyrocketed, pushing the market cap to an impressive $8 billion. This rapid increase raised eyebrows, as many were mesmerized by its steep curve, showing over 300% hikes in price—going from an initial price of $0.18 to a stunning $7.1. One trader even claimed to have made a jaw-dropping profit of $20 million in under an hour!
How Did We Get Here?
So, what’s the story behind this coin? The first indication of $TRUMP came from Trump’s social media accounts on Truth Social and X (formerly known as Twitter). The launch announcement led to a flurry of discussions and even confusion over the legitimacy of the claims, with some suggesting that Trump’s accounts might have been hacked. The excitement around cryptocurrencies, especially meme coins, means that many jumped at the opportunity to buy in during the launch excitement.
Who Owns $TRUMP?
Looking deeper into the ownership, it’s revealed that a substantial portion of the $TRUMP coin is held by two companies closely associated with Trump—CIC Digital LLC and Fight Fight Fight LLC. Together, these entities control about 80% of the tokens. This centralization has stirred discussions about the project’s legitimacy as well as concerns about potential market manipulation, especially given Trump’s history of unconventional business ventures.
Skepticism and Legitimacy Concerns
Despite the overwhelming excitement, many are left questioning the credibility of the $TRUMP coin. As with any new cryptocurrency, skepticism is natural, particularly when so much rapid monetary gain is at stake. Users have reported an increase in account thefts and hacks surrounding the launch, which adds to the anxiety about the coin’s use and safety. The official website states that the $TRUMP coin is “not political” and has no connections to any political campaign, which may not be enough to assuage doubts.
The Future of $TRUMP Coin
With a total supply of 1 billion tokens planned over three years, the future of the $TRUMP coin raises many questions. Will it continue to maintain its value? Or will it tumble like many meme coins that saw a quick rise but ultimately fell back down? Only time will tell. For now, it stands as one of the latest examples of how cryptocurrency continues to intertwine with political personalities in what seems like an endless attempt to capitalize on the digital currency craze.
| Key Points about $TRUMP Coin | |
|---|---|
| Initial Launch Price | $0.18 |
| Peak Price | $7.1 |
| Market Cap at Launch | $8 Billion |
| Tokens Launched | 200 Million |
| Total Supply Planned | 1 Billion |
| Ownership Control | 80% by CIC Digital LLC and Fight Fight Fight LLC |
