The memecoin “OFFICIAL TRUMP” ($TRUMP) has made a stunning entry into the crypto market. In less than 24 hours since its launch, this humorous crypto, promoted by Donald Trump himself, has risen spectacularly. According to analysts, this performance could potentially multiply the new American president’s fortune fivefold.
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Trump Memecoin, a Phenomenon Shaking Up the Crypto Market
The cryptocurrency market is undergoing a major new upheaval with the launch of the TRUMP memecoin. Announced by Donald Trump himself on his social networks on January 18, this token quickly captured worldwide attention.
Just three hours after its introduction, its market capitalization reached $8 billion propelling the crypto into the market’s top 30. Trading volumes exceeded $12 billion in 24 hours, testifying to an unprecedented craze.
The impact of this launch extends far beyond memecoin itself. The blockchain Solana which hosts the token TRUMP saw its native SOL token reach a new all-time high above $290. This momentum has also led to a significant shift in liquidity from other networks, notably Ethereum.
Questions of governance and impact on personal wealth
In-depth analysis of the project reveals intriguing aspects concerning its governance structure. According to Arkham Intelligence, 80% of tokens are held by a single portfolio, linked to two entities: CIC Digital LLC and Fight Fight Fight LLC, companies actually owned by Donald Trump.
This concentration could have major implications for the personal fortune of the new President of the United States estimated by Forbes at $5.6 billion in November 2024.
These developments come as the world awaits Trump’s inauguration today. The dazzling success of his memecoin sends a strong signal to the world of traditional finance, perhaps foreshadowing a new era in the relationship between politics and cryptocurrencies.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
