Trump’s ‘Official’ Crypto TRUMP Token Skyrockets to $14 Billion Market Cap Within Hours
In a dramatic debut, President-elect Donald Trump’s “official” cryptocurrency, TRUMP...
prativad 
January 2025 | Prativad.com
In a dramatic debut, President-elect Donald Trump’s “official” cryptocurrency, TRUMP, has taken the digital asset world by storm, reaching a staggering $14 billion market capitalization just hours after its launch. The Solana-based meme token was introduced early Saturday, two days before Trump’s inauguration as the 47th President of the United States.
The token opened trading at $0.1824 but witnessed an extraordinary 8,000% surge within five hours, climbing to $14.4 per token as of 08:00 GMT, according to Dexscreener. More than 66,000 buyers have already joined the frenzy, overshadowing nearly 18,000 sellers. Liquidity has also skyrocketed, surpassing $388 million.
Trump officially announced the launch on his Truth Social and X (formerly Twitter) accounts, stating:
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
“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.”
Legitimacy Questions and Community Skepticism
The token’s launch initially sparked skepticism among crypto enthusiasts, with concerns about its authenticity. Blockchain engineer cygaar pointed out on X that the project’s website closely resembled Trump’s previous NFT collections, questioning whether it was a sophisticated scam or a legitimate venture. However, Trump’s continued promotion of the token and Polymarket data indicating only a 10% chance of his accounts being compromised helped ease doubts, further fueling the token’s meteoric rise.
Allocation Concerns
The token’s allocation has drawn scrutiny, with 80% of the supply locked in a multisignature wallet reportedly controlled by the creator, holding $3 billion worth of TRUMP. Conor Grogan, head of product business operations at Coinbase, highlighted that the project was seeded with millions of dollars from Binance and Gate, exchanges not operating in the US.
Additionally, 80% of the circulating supply is linked to Fight Fight Fight LLC and CIC Digital LLC, entities associated with the Trump Organization. The remaining 20% is split equally between public investors and liquidity.
Trump’s Crypto Vision
The launch of TRUMP is the latest move in Trump’s pivot towards cryptocurrency, marking a significant departure from his earlier skepticism of digital assets. During his campaign, Trump pledged to position the United States as the global leader in cryptocurrency innovation. His pick for SEC chair, Paul Atkins, a pro-crypto advocate and former SEC commissioner, is expected to lead efforts to overhaul regulatory frameworks.
As TRUMP’s value continues to surge, the crypto community and investors are closely watching how this unprecedented initiative unfolds in the evolving landscape of digital finance.
Stay tuned to Prativad.com for the latest updates on this story and more.
