President-elect Donald Trump Launches Official $TRUMP Meme Coin on Solana

President-elect Donald Trump announced Friday he had launched Official Trump ($TRUMP), a Solana-based meme coin. The token exploded to $8 billion in market cap in less than three hours of its debut amid concerns that his social accounts might have been compromised.

Hot off the press: President-elect Donald Trump has announced the launch of Official Trump ($TRUMP), a Solana-based meme coin. The token's debut was nothing short of explosive, quickly amassing a market capitalization of $8 billion within three hours. This remarkable surge has sparked concerns that Trump's social media accounts may have been compromised.

According to data from GeckoTerminal, $TRUMP's value surged by over 300% in the first three minutes following the announcement, with trading volumes reaching nearly $1 billion. At the time of writing, the token was priced at around $8.

The announcement was first shared on Truth Social, directing users to GetTrumpMemes, the project's official website, to acquire the tokens. Later, a similar message was posted on X, promoting it as the official $TRUMP meme coin.

However, the legitimacy of both announcements and the project itself is being questioned, especially considering the recent wave of X account hacks. Following these announcements, Trump's Truth Social account shared a new post regarding Peggy Schwinn's appointment as US Deputy Secretary of Education.

Cygaar, a blockchain engineer, suggests that the team behind Trump's previous NFT project is likely involved in this new meme coin venture, based on several technical similarities between their websites.

"Same Cloudflare setup, same deployment with Heroku, same SSL certificate issuer. Very similar HTML structure as before," he explained, highlighting that both websites were deployed using Heroku.

"Either this is the greatest cyber heist of all time, or this is legit," Cygaar concluded.

"I don't like to tweet about coins, and in no way shape or form is this a promotion. But to keep people safe, this is the real Trump coin. We have approved it to the Jupiter strictlist," stated Slorg, a member of Jupiter's Core Working Group.

What else do we know?

The $TRUMP token is said to be inspired by the "Fight, Fight, Fight" battle cry that emerged following Trump's life-threatening experience at a campaign rally in Butler, Pennsylvania, on July 13, 2024. These were the words he uttered after surviving the assassination attempt, according to the project's website, GetTrumpMemes.