Meme coin TRUMP surges in value after launch
Date
1/19/2025 12:40:33 AM
(MENAFN) Donald Trump’s “official” meme cryptocurrency, TRUMP, experiences a meteoric rise, reaching nearly USD14 billion in market value within just hours of its release, as reported by cryptocurrency monitoring platforms. Built on the Solana blockchain, the token made its debut early Saturday, just two days before Trump is set to take office as the 47th leader of the United States.
The coin launched with an initial price of USD0.1824 but skyrocketed by over 8,000 percent in less than five hours, trading at approximately USD14.4 by 08:00 GMT, according to data from Dexscreener. Its market capitalization hit USD14 billion during this period, with more than 66,000 buyers snapping up the token compared to about 18,000 sellers. Liquidity levels also spiked, surpassing USD388 million.
Trump introduced the cryptocurrency on his official Truth Social and X platforms, stating “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
Initially, members of the crypto community expressed doubts about the coin’s authenticity, raising concerns over potential hacks or social engineering tactics. A blockchain engineer operating under the pseudonym cygaar pointed out on X that the token’s official website closely resembles those associated with Trump’s earlier NFT projects. They speculated that “either this is the greatest cyber heist of all time, or this is legitimate.”
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