Donald Trump Launches $TRUMP Meme Coin, Market Cap Skyrockets to $7.7 Billion Within 2 Hours

The cryptocurrency market witnessed a tremendous surgeon January 17th following the launch of ‘TRUMP.’, a new meme coin introduced by recently elected U.S

Recently, the cryptocurrency market encountered an extraordinary event on January 17th. Following the announcement, a new meme coin, dubbed ‘TRUMP,’ was launched by the newly elected U.S. President, Donald Trump.

The announcement, which was posted on his platform Truth Social, showcased Trump's characteristic flair: "My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!"

According to Cryptotimes, the launch of the $TRUMP memecoin on the Solana blockchain swiftly garnered the attention of the crypto community, making it the center of discussion across various social media platforms.

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

Remarkably, within just two hours of its release, the coin’s value soared by over 4,200%, pushing its market cap to an astounding $7.7 billion. This abrupt introduction and dramatic increase in value ignited a frenzy of debates, confusion, and Fear of Missing Out (FOMO) among enthusiasts and sceptics alike.

This is beyond insane:Donald Trump just launched a meme coin, $TRUMP, which is now over +4,200% in 2 hours.The market cap now stands at $7.7 BILLION in a causal meme coin launch on a Friday night.What is happening? pic.twitter.com/WJS1HbnEYj

$TRUMP Memecoin Astounding Trader Profit from Rapid Purchase

In the following frenzy, one trader capitalized immensely by purchasing nearly 6 million TRUMP coins for roughly $1.1 million in USDC. Incredibly, within just 90 seconds, the value of this investment surged to $23 million. Despite having sold only a fraction of their holdings, this trader still possesses 5.43 million TRUMP coins, securing a profit exceeding $20 million, as reported by Lookonchain.

JUST IN: Snoop Dogg is performing at Donald Trump’s Crypto Ball and his meme coin $TRUMP just hit $7.6 billion in market cap 🤣 pic.twitter.com/EVmCRezxne

The meteoric rise of the TRUMP coin has drawn a massive influx of users and raised concerns regarding account security amidst the trading boom. Nonetheless, the coin’s price performance and the notable profits gained by early traders remain the predominant subjects of discussion within the crypto community.

According to Introbillion at Binance, the TRUMP coin, with 200 million tokens in circulation, has achieved over $1 billion in trading volume and boasts a market cap of $14.5 billion. This reflects the significant impact and interest it has generated in the crypto market.