Donald Trump’s $TRUMP Meme Coin Takes Crypto World By Storm With $14.5 Billion Market Cap

On By Littum

The cryptocurrency market saw a massive reaction on January 17 when Donald Trump, the newly elected President of the United States, unveiled his official meme coin, ‘TRUMP.’. Within the first hour of the news, one trader received an unexpected price of 20 million dollars in less than an hour.

Donald Trump launched the new meme coin on his social media platform, Truth Social, with these words: “My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: WINNING!”

According to Crypto Times, Donald Trump’s $TRUMP memecoin launch on Solana has taken the crypto world by storm, becoming the hottest topic on multiple social media platforms. In just two hours after its launch, the coin increased by over 4,200% and reached a market capitalization of USD 7.7 billion. The sudden launch, coupled with its massive growth, has sparked debate, confusion and FOMO across social media.

According to the news portal, one trader moved quickly and bought nearly 6 million TRUMP coins for approximately $1.1 million using USDC. Within 90 seconds, this trader’s investment was worth $23 million. So far, they have only sold a small portion, but still have 5.43 million TRUMP on hand, giving them a profit of over $20 million, according to Lookonchain.

The explosive launch has attracted many users, but questions are also being asked about account theft. However, the price increase of the TRUMP coin and the trader’s profit are the main topics of discussion in the cryptosphere at the moment.

According to Introbillion at Binance, with 200 million tokens in circulation, it has already hit $1 billion in trading volume and a market cap of $14.5 billion.