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TRUMP: launch and accelerated growth
Donald Trump surprised society on 17 January 2025, three days before his inauguration, by launching the meme coin TRUMP based on the Solana blockchain. Trump announced the launch on his official X and Truth Social accounts. The coin’s value quickly surged, particularly when it was listed on several CEX (centralised crypto exchanges) like ByBit. Within two days, it increased from $7 on 17 January to $75 on 19 January. The next day, when the President entered the White House, the price soared significantly. The minimum was around $38 per coin. At one point, the coin became the 19th most valuable crypto globally during its peak on 19 January. At the moment of writing the article, the coin ranks 25th on CoinMarketCap in terms of market capitalisation, outperforming popular memecoins like PEPE and, notably, 10-year-old XMR.
TRUMP is considered a memecoin since it has no inherent value, and the asset’s price entirely depends on the market sentiment: buyers and sellers can manipulate the price. Nonetheless, Trump’s fans and crypto enthusiasts have actively supported the coin. The volume of daily traded coins reached its maximum on the inauguration day, 20 January, and surpassed $52 billion.
Currently, the circulating supply accounts for almost a fifth of the whole supply: 200 million tokens. Another 800 million are controlled by Trump-owned entities. The developers plan to release the remaining tokens gradually within three years. However, many experts are concerned because the owner can ruin the market by selling the controlled assets.
MELANIA
meme
coin:
launch
and
impact
on
the
market
Following
the
TRUMP
coin
hype,
Melania
Trump
announced
the
launch
of
her
own
meme
coin,
MELANIA.
While
its
value
almost
reached
$13
on
20
January,
and
a
lot
of
crypto
traders
abandoned
TRUMP
to
trade
MELANIA,
the
asset’s
price
has
dropped
since
then.
The
First
Lady’s
coin
was
officially
presented
by
her
incorporated
company,
MKT
World
LLC.
The coin has contributed to the Trump family’s crypto hype. There were even rumours that another coin from Ivanka Trump, the daughter of the elected President, was about to see the world. However, no official news or proof was released, so this could be fake.
The
future
of
TRUMP
TRUMP
has
been
a
controversial
asset.
Some
believe
it
signals
‘a
new
regulatory
era,
where
governments
see
crypto
as
a
technology
to
reach
out
to
the
masses
directly’.
Others
are
sure
that
the
launch
has
undermined
the
credibility
of
the
industry,
as
the
coin
is
rather
volatile
and
speculative.
For
example,
a
popular
Bitcoin
investor,
Erik
Voorhees,
has
criticised
the
asset.
‘Although TRUMP may be considered as a ‘rug pull’—a quickly abandoned coin—it may have potential longevity. One of the deciding factors is the remaining 80% of the supply and its future’, comments Kar Yong Ang, a financial market analyst at Octa Broker. ‘For now, the future of the asset depends on the crypto society and its willingness to buy TRUMP. This is proved by the MELANIA launch, which shifted liquidity in its favour and significantly dropped the President’s token price.’
Considering the emotion-driven buying frenzy of the TRUMP coin, which potentially drove many newcomers to the crypto market, it’s likely to provoke another rise of memes from celebrities and influencers. While meme coins are known for their high returns, especially during the launch on CEX, they are very volatile and speculative. Traders should avoid quick decisions and overbudgeting to secure their funds.
What is more, it’s advised to beware of scams. For example, there are fake TRUMP tokens now. Moreover, hackers can try to capitalise on the meme hype. Just recently, scammers breached Nasdaq’s X account and promoted a fake meme coin, STONKS. It was launched the same day and was a copycat of a pre-existing memecoin on Solana. Despite this, the project’s market capitalisation reached $80 million. Several days later, the token’s price dropped.
Nonetheless, TRUMP can be considered an evidence of a crypto-favourable regulation. Since Donald Trump was elected as the U.S. President, crypto society has considered this as another proof of an anticipated bull run and crypto mass adoption. For example, Bitcoin hit another ATH (all-time-high) on the inauguration day. This is probably driven by the President’s crypto-related plans, such as industry deregulation or a potential strategic Bitcoin reserve.
Hashtag: #Octa
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