Donald Trump Launches New Memecoin Called “Official Trump ($TRUMP)” on the Solana Blockchain

Donald Trump, the United States president-elect, launched a new memecoin called “Official Trump ($TRUMP)” on the Solana blockchain on Friday, January 17

United States President-elect Donald Trump has launched a new memecoin called “Official Trump ($TRUMP)” on the Solana blockchain.

The memecoin was announced on Truth Social and Elon Musk’s X by Trump at around 02:44 on Saturday.

“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!,” Trump's X post reads.

The project is operated by CIC Digital LLC, which is linked to The Trump Organization, and Fight Fight Fight LLC.

Meanwhile, the official website, GetTrumpMemes, allows users to buy $TRUMP using either cryptocurrency or a debit card. According to Donald Trump, the token is a community-driven cryptocurrency and digital collectible that honors the courage and strength of incoming President Donald Trump.

This meme coin is a unique digital asset that will be allocated over three years to encourage engagement and support for the ideals represented by the “$TRUMP” symbol.

From the launch, 200 million $TRUMP tokens will be available in the open market, increasing to 1 billion over three years. However, the team insists that this memecoin is not an investment opportunity or a security but a way to express support for Donald Trump's ideals.

“GetTrumpMemes.com is not political and has nothing to do with any political campaign, office, or governmental agency,” the website states.

TRUMP Memecoin Price Performance

The Trump official memecoin has received mixed reactions from crypto traders. Within hours of its launch, it attracted about $2 billion in trading volumes and currently has a market value of $4.81 billion.

It is now the 32nd largest coin by market cap, with a fully diluted value of $24.05 billion just under 24 hours after launch. The coin also gained nearly 300,000 holders in a short time.

Despite some initial doubts in the cryptocurrency community, many traders have used its popularity to earn profits. One trader reportedly had a massive gain of 2,634%.

🚨JUST IN: A trader is up $29.8M on $TRUMP, Donald Trump’s official memecoin on Solana. He spent $1.09M to buy 5,971,750 TRUMP coins, now worth $30.8M in under 2 hours—a 2,634% gain. The trader has not sold any coins yet. pic.twitter.com/HS56HoA85X

The trader allegedly invested $1.09 million to buy 5,971,750 TRUMP coins that are valued at roughly $30.8 million in under 2 hours. At press time, the trader's holding is now worth roughly 126,004,037 at about $21 each.

Is $TRUMP real?

Recent hacks that affected many high-profile X accounts raised concerns about the legitimacy of the Trump memecoin. However, these doubts were cleared up when some experts provided clarification.

A blockchain engineer known as Cygaar suggested that the team behind Trump’s previous NFT project might have created the new memecoin since their websites share many technical similarities.

I don't like to tweet about coins, and in no way shape or form is this a promotionBut to keep people safe, this is the real Trump coin. We have approved it to the Jupiter strictlist:6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN pic.twitter.com/nvyP39m9Zx

Moreover, Slorg, a member of Jupiter’s Core Working Group, stated that $TRUMP has been verified and listed on Jupiter Exchange.

“This is the real Trump coin. We have approved it to the Jupiter strictlist,” he highlighted.

READ MORE: Bitcoin Hit $105k Amid Pre-Trump Market Excitement