Trump Launches $TRUMP Meme Coin; is it crypto gold or a promotional gimmick?

On By Littum

With just days to his inauguration, President-elect Donald Trump has launched a new crypto token: $TRUMP. Marketed as a meme coin, $TRUMP has seen an explosive rise in value, sparking a whirlwind of interest – and skepticism – in the crypto world.The debut of this Solana-based meme coin began with a flurry of posts on Trump’s social media accounts, Truth Social and X (formerly Twitter).

The announcement quickly gained traction, but not without raising a few eyebrows. Many users initially wondered if Trump’s accounts had been hacked, especially since his Truth Social account simultaneously named Peggy Schwinn as Deputy Secretary of Education — with her name misspelled. The bizarre nature of the posts led to confusion, but that didn’t stop the meme coin from making waves.

The $TRUMP rise

In less than three hours, $TRUMP’s market cap rose to an eye-watering $8 billion. Trading volume approached $1 billion and the coin’s value rose over 300% within minutes. By the time the dust settled, the price of $TRUMP had reached $7.1, up from an initial $0.18. The rise of $TRUMP has led to stories of huge windfalls, with one trader making a $20 million profit in less than an hour. But what is really behind this meteoric rise?

The $TRUMP meme coin is inspired by Trump’s rallying cry, “Fight, Fight, Fight,” which he reportedly shouted after surviving an assassination attempt at a campaign rally in Pennsylvania in July 2024.

The token launched with 200 million coins, out of a total supply of 1 billion that will be released gradually over the next three years. A substantial 80% of the tokens are owned by CIC Digital LLC, a subsidiary of The Trump Organizationand Fight Fight Fight LLC, which was registered a few days ago in Delaware.

Concerns about skepticism and legitimacy

While $TRUMP’s eye-popping price increases and market reactions have led to excitement, the project’s legitimacy has been questioned.

The meme coin’s official page assures users that it is “non-political” and has no connection to any political campaign or office. However, that hasn’t allayed concerns about potential hacks and the company’s overall credibility, especially given the recent rise in account theft at X.

Adding to the weirdness, Trump’s recent merch endeavors have included everything from $100,000 watches to attempted assassinations in Cologne.

This meme coin launch follows a long line of Trump-branded products—each more bizarre than the last—including “Trump Guitars,” which had to be pulled following a cease-and-desist order from Gibson. With a story like this, it’s no surprise that crypto enthusiasts are both intrigued and wary.

Ultimately, while the $TRUMP token has become the talk of the town in the crypto world, its true value and future remain uncertain. Whether it will be remembered as a fun foray into the meme coinage or the next big thing in digital assets remains to be seen. What is clear, however, is that the Trump brand continues to keep things interesting – whether in politics, merchandise or the world of cryptocurrency.