The TRUMP meme coin has skyrocketed in value just days after its official launch, capturing attention in the meme coin and Solana communities alike.
As of January 19, 2025, the TRUMP meme coin is trading at $69.54, up an impressive 265.75% from the previous day. With a market capitalization of $1.226 billion (approximately 17.9 trillion won), the coin has risen to the 13th position among all cryptocurrencies.
The coin's surge comes following an announcement by Trump on his social media accounts, including Truth Social and X (formerly Twitter), where he urged followers to join the “Trump community” and acquire the coin. Trump's son, Eric Trump, further amplified the excitement by calling the coin “the hottest digital meme in the world”, a statement echoed by Trump's account on X, further fueling speculation and interest in the token.
The TRUMP coin was issued through the Solana blockchain and is structured to be traded on the Solana decentralized exchange (DEX), driving increased interest in the entire Solana ecosystem. As a result, the price of Solana has surged in parallel with the TRUMP token's rally. To purchase TRUMP coins, investors need to acquire Solana, which has contributed to a significant price increase for Solana and other tokens within the Solana ecosystem, such as Jupiter (JUP) and Ray (RAT).
However, concerns have been raised regarding potential conflicts of interest. According to the coin's official website, two subsidiaries of the Trump Organization, where Eric Trump serves as vice president, control 80% of the coin's total circulation. This implies that a substantial portion of the profits from the coin's price surge could benefit the Trump Organization, sparking discussions on market manipulation and the ethical implications surrounding the token's rise.
Despite these concerns, the TRUMP token's success has only grown, with its dramatic price increases attracting widespread attention. As Trump's inauguration draws near, the coin's meteoric rise showcases the impact of meme-based cryptocurrencies on both the market and the broader conversation around political figures and their involvement in the digital asset space. The TRUMP meme coin serves as a bold and speculative move, highlighting how rapidly the crypto world can respond to cultural and political events.
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