The cryptocurrency world is buzzing with excitement after President-elect Donald Trump unveiled his meme coin, “TRUMP.”
Since its launch, the token has gained significant momentum, with major exchanges listing it and trading volumes surging.
TRUMP Meme Coin Shakes Up the Market
On January 17, Donald Trump unveiled the TRUMP token, and its impact was almost immediate. The memecoin quickly gained traction, with its market capitalization soaring to over $13 billion within 24 hours.
According to CoinGecko, its price surged by over 130%, making it the second-largest meme coin, trailing only Dogecoin. It surpassed other notable tokens like Shiba Inu and Pepe in terms of market value. As of now, the token trades at $63, reflecting its explosive popularity.
Top 5 Meme Coins by Market Cap. Source: Coingecko
The rapid rise of the TRUMP token has attracted attention from prominent centralized and decentralized exchanges. Leading platforms such as Binance, Coinbase, Kraken, and OKX have already listed it.
Additionally, decentralized exchanges on the Solana blockchain, including Raydium and Orca, have joined the action. This has led to record trading volumes on Solana, with Raydium generating over $25 million in fees and nearly $3 million in revenue in a single day, according to DefiLlama data.
Beyond market activity, blockchain analytics indicate that the token’s success has had a notable financial impact on Donald Trump. Reports suggest entities associated with him hold a significant share of the token’s supply, potentially adding billions to his net worth.
“Donald Trump’s net worth is up $22 billion overnight, assuming CIC Digital LLC and Fight Fight Fight LLC, which collectively own 80% of the $TRUMP supply, effectively belong to him. At the current price of ~$28, that stake is worth $22.4 billion.Forbes estimated the President-elect’s net worth at $5.6 billion in November 2024. If this is accurate, the addition of the memecoin stake would be a 5x increase,” blockchain intelligence platform Arkham Intelligence reported.
Rumors of USA Coin Denied
As the TRUMP token garners widespread attention, rumors about another cryptocurrency project, dubbed USA Coin, have surfaced.
Eric Trump, Donald Trump’s son, has denied any connection between the family and this rumored project. He emphasized that the Trump family remains focused solely on the TRUMP token, seeking to avoid any confusion.
“$USA coin has nothing to do with us,” Eric Trump stated on X.
Eric Trump praised the success of the TRUMP token, calling it the hottest memecoin globally. He also hinted at future plans for the token and the family’s DeFi venture World Liberty Financial to revolutionize both decentralized and centralized finance, positioning it as a transformative force in the financial world.
“Trump is currently the hottest digital meme on earth and I truly believe that WorldLibertyFi will revolutionize DeFi/Cefi and will be the future of finance,” Eric Trump added.
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
