US President-elect Trump Personally Issued the TRUMP Meme Coin, Market Value Exceeds US$2 Billion

On the morning of January 18, cryptocurrency once again welcomed an event that can be recorded as a milestone - the incoming US President-elect Trump personally issued the currency!

At 10:00 sharp, Trump first announced on his social media platform Truth Social that he would launch his personal Meme coin TRUMP. Users need to visit the website with the domain name "GetTrumpMemes.com" to purchase the token.

Although the market is still unsure whether this was done by Trump himself or a malicious operation after his social media account was stolen, under the crazy FOMO sentiment trend, the token began to soar, and its market value quickly exceeded US$2 billion.

Then at 10:44, Trump once again announced the same content on his personal account X. This time the market has basically ruled out the possibility of theft. Although it is extremely unbelievable, the reality seems to be like this - the President of the United States personally issued the currency!!!

However, given that this incident was so explosive, the investigation within the community did not stop there.

Some on-chain observers found that the funds of the token’s deployment address seemed to come from Binance and Gate, two major exchanges that do not support the US market.

However, Abstract contributor cygaar found that the deployment features of TRUMP's distribution website are almost identical to Trump's previous NFT website technology. The two websites have the same cloudflare settings, the same Heroku deployment, the same SSL certificate issuer... The HTML structure is very similar to before - cygaar also complained that "only old men still deploy websites like this..."

Token Economic Model

According to the website of “GetTrumpMemes.com”, the initial purchase of TRUMP needs to be made through Moonshot, which supports traditional payment methods such as Apple Pay, Visa, Mastercard, Venmo, as well as cryptocurrency payment methods such as USDC and SOL.

Given that TRUMP has now made its contract address public (6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN) and the on-chain pool has accumulated to a size of US$17.7 million, it will be more convenient for users to purchase directly on the chain.

TRUMP was issued on the Solana chain. The token commemorates the heroic figure of Trump raising his fist and shouting the iconic battle cry "FIGHT FIGHT FIGHT" after the assassination on July 13, 2024. GetTrumpMemes is intended to express support and participation in the ideals and beliefs embodied in the "TRUMP" symbol and its related artworks, and is not intended to be the subject of an investment opportunity, investment contract, or security of any type. GetTrumpMemes is not political and has nothing to do with any political campaign or any political office or government agency.

The total supply of TRUMP is 1 billion, but only 200 million will be circulated at the beginning of creation, and the remaining 800 million will be gradually unlocked in the next three years.

The website "GetTrumpMemes.com" shows that Trump Group's subsidiaries CIC Digital LLC and Fight Fight Fight LLC jointly own 80% of Trump Cards (Note: this is the official statement, but combined with the context, it should refer to TRUMP tokens), but they must comply with the 3-year unlocking plan. Fight Fight Fight LLC's owners CIC Digital LLC and Celebration Cards LLC will receive trading revenue generated by Trump Cards trading activities.

The specific distribution of TRUMP and future unlocking progress are shown in the figure below.

Real-time market conditions

GMGN quotes show that as of 11:40, TRUMP is temporarily reported at US$4.7, and the corresponding FDV has exceeded US$4.7 billion; based on a circulation volume of 200 million pieces, the corresponding circulating market value has exceeded US$900 million.

(Note: As of 13:18, TRUMP's market value briefly reached $10 billion, temporarily reported at $9.5 billion)

Potential positive and negative

Since TRUMP is issued on the Solana chain, SOL will inevitably benefit directly from both the influence of the president’s endorsement and the current buying demand.

Judging from the market trend in the last hour, SOL has been significantly strengthened in the short term due to this incident. OKX market shows that SOL is currently reported at 226.4 USDT, with a 24-hour increase of 6.73%.

However, at the same time, other concept memes on the Solana chain, such as WIF, PUNT, and ai16z, are generally on a downward trend in the short term. For the time being, it seems that they have been severely drained by TRUMP