The token's market cap skyrocketed to a staggering $15 billion market cap within just five hours, sparking equal parts excitement and skepticism online.
Fresh off his announcement to prioritize crypto upon entering the White House, President-elect Donald Trump unveiled a new initiative on Friday: an official Trump meme coin ($TRUMP) built on the Solana blockchain.
Announced via Truth Social, the token quickly became the talk of the crypto town, with its market cap reaching an impressive $15 billion in just five hours.
Trump's Truth Social post about the meme coin. Source: Truth Social
The announcement on X followed, with a concise description of the token as the "one and only official" Trump meme coin.
Trump's X post about the meme coin. Source: X
However, the project's legitimacy has been met with skepticism, with some speculating that Trump's social media accounts may have been hacked. The lighthearted disclaimer on the token's website, describing it as "not a financial investment" and intended "solely for entertainment purposes," adds another layer to the curious tale of the Trump meme coin.
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