President Donald Trump Launched the $TRUMP Memecoin on Friday Night, January 17, Just Days Before His Presidential Inauguration

While the coin has experienced significant volatility, its overall market cap went from $600 million to just over $7 billion as of Monday afternoon.

President Donald Trump's memecoin, which launched on Friday night, soared in value over the weekend, with its market cap climbing from $600 million to over $7 billion by Monday afternoon.

According to early data from analytics firm Nansen, many of the largest investors who turned a profit from the memecoin have already sold off their holdings and realized their gains. However, some investors are still holding large positions with unrealized gains of up to 19,000%.

As of Monday at noon, many of the largest Trump coin holders, with over $20 million invested, were selling off the coin and realizing gains.

For instance, an investor who once held over $52 million in Trump coins sold off their entire position, netting a 91% return on their investment.

Of the 15 largest holders by position size, around 33% had completely exited by noon on Monday. The remaining large holders sold off most of their positions and maintained only a small exposure. One large holder, with a $32 million position, had yet to sell.

Investors who saw over 10,000% returns had varying position sizes, with one holding as little as $1,400 and the highest holding almost as much as $2.4 million, according to data from Nansen. The holder who saw the highest gain, at almost 19,000%, had a position worth $270,000 and still held 54% of their position as of Monday noon.

There were also some significant losers. One investor exited their position entirely after they were down by 36%, for a loss of over $3.5 million. Another wallet sold off after it was down 41% for a loss of almost $2 million.

Trump made significant overtures to the crypto community on the campaign trail and has indicated he will loosen restrictions on the industry during his second term.

Apart from exchanges and market makers, Nansen said the largest holders it could identify are names well-known within the crypto community, including Santiago R. Santos, and funds such as Master Ventures and Swissborg.

Mark Greenberg, Kraken's global head of consumer business, said that Trump's memecoin was the most successful token launch the exchange saw within the first 24-hour period.

"While weekends typically see quieter trading activity, the launch of TRUMP just days before President Trump's inauguration has clearly captured the market's imagination," Greenberg said in a statement. "This success highlights the unique ability of memecoins to transform cultural moments into tradable assets, offering clients an opportunity to engage with and capitalize on these trends."

However, some have been more pessimistic about the Trump memecoin. Erik Vorhees, the founder of crypto exchange ShapeShift, called the Trump coin "stupid and embarrassing." Gabor Gurbacs, the founder of PointsVille, wrote "memecoins cost the US, the presidency and his family a lot of credibility and the consequences haven't even started."