TRUMP Meme Coin Launched by US President-Elect Donald Trump Gains Traction, Rewarding Early Traders

The US president-elect reiterated his admiration for the crypto sector by officially announcing the launch of his meme coin on January 18 despite early skepticisms

Donald Trump, the former US president, has officially launched his meme coin, which is now available for purchase on FTX. The token, aptly named “TRUMP,” has quickly amassed a following among traders, who are eager to capitalize on the latest buzzword in the crypto sphere.

According to data from DEXScreener, the TRUMP token has seen an astonishing upsurge in value since its debut a few hours ago. At the time of writing, the asset trades at $18.96, fueled by a staggering 9,621% rally since launching.

As the TRUMP token continues its remarkable ascent, a closer examination of on-chain activity reveals some interesting insights. According to Lookonchain, a user has managed to secure an impressive profit from the meme coin.

The on-chain tracker noted that the user swapped 1.1 million USDC for 5.97 million TRUMP as soon as the token became available. Notably, DEXScreener data shows that the wallet purchased the Trump meme coin at an average price of $0.1835 around 03:01 (UTC).

While Lookonchain reported that the wallet sold 543,000 TRUMP for $404,000, DEXScreener data suggests that the wallet still holds 5.97 million TRUMP. At the current price, this equates to an unrealized profit of $104 million, marking an incredible 9,354% return on investment.

Meanwhile, other users have also secured substantial gains from the TRUMP token. For instance, 0xSun, the founder of 0xSun.Sol Group, has realized over $3.7 million from the meme coin, according to Solscan data.

He bought 999,895 TRUMP with 3,000 SOL at an average price of around $0.6 and has sold 899,895 TRUMP ($3.115 million), still holding 100,000 TRUMP ($1.68 million).