TRUMP'S NET WORTH QUINTUPLES OVERNIGHT TO $28 BILLION

The cryptocurrency market experienced a groundbreaking moment on January 18, 2025, with the debut of the “OFFICIAL TRUMP” ($TRUMP) memecoin on the Solana blockchain.

The cryptocurrency market witnessed a pivotal moment on January 18, 2025, as the "OFFICIAL TRUMP" ($TRUMP) memecoin debuted on the Solana blockchain. The token made a grand entrance, surging by over 600% within hours of its launch, reaching a peak value of $33.78 before noon. Currently trading at $31, the token remains 10% above its opening price of $28 on Sunday.

Trump himself announced the token on his official Truth Social and X accounts, generating a buzz that dominated headlines globally. The market reacted swiftly and intensely, with $TRUMP's market capitalization reaching $8 billion within three hours, placing it among the top 30 cryptocurrencies. At present, the market cap is valued at $6.58 billion, with a fully diluted valuation of $34.4 billion.

Solana Ecosystem Experiences Rippling Effects

The launch of the $TRUMP memecoin triggered ripple effects throughout the Solana blockchain. Built on Solana, the token's overwhelming success also elevated its native token, SOL, which hit a new all-time high above $270, marking a 23% gain on the launch day. As of January 19, SOL is trading at $267 with a staggering $23.96 billion trading volume.

This Solana-based memecoin boom drew liquidity away from rival networks like Ethereum, which witnessed a decline in the value of its prominent memecoins. This trend highlighted Solana's growing dominance in decentralized finance (DeFi) and memecoin trading. Additionally, SOL surged against ETH, reaching an all-time high of 0.081, driven by the memecoin's explosive debut.

Controversy Surrounding Trump Memecoin

Despite the remarkable launch, the $TRUMP memecoin was not without controversy. Skeptics raised concerns about its legitimacy, citing Donadl's history with unconventional ventures. Questions also arose about the security of his social media accounts and the concentration of 80% of $TRUMP tokens in a single wallet.

On X, Arkham Intelligence shed light on the potential impact of $TRUMP on Donald's net worth. “Donаld Trump’s nеt worth is up $22 billion ovеrnight, аssuming CIC Digitаl LLC аnd Fight Fight Fight LLC, which collеctivеly own 80% of thе $TRUMP supply, еffеctivеly bеlong to him,” they reported. At $28 per tokеn, this stаkе would bе vаluеd аt $22.4 billion.

“Forbеs еstimаtеd thе Prеsidеnt-еlеct’s nеt worth аt $5.6 billion in Novеmbеr 2024,” Arkhаm аddеd. If аccurаtе, thе аddition of $TRUMP would rеprеsent а fivеfold incrеаsе in his wеаlth, undеrscoring thе coin’s finаnciаl significаncе.

TRUMP'S NET WORTH QUINTUPLES OVERNIGHT TO $28 BILLIONDonald Trump's net worth is up $22 billion overnight, assuming CIC Digital LLC and Fight Fight Fight LLC, which collectively own 80% of the $TRUMP supply, effectively belong to him.At the current price of ~$28, that stake… pic.twitter.com/N7hH9QUSt9

The success of $TRUMP has also highlighted the volatility of the crypto market, especially with high-profile memecoins. While the token has solidified Solana's reputation for handling massive trading volumes, it has simultaneously stirred debates about the risks such ventures introduce to the broader crypto ecosystem.