As President-elect Donald Trump prepares for his return to the White House, his social media accounts have made waves with an unexpected announcement—a new cryptocurrency called “$TRUMP.” The unusual posts raised suspicions among social media users, with some wondering if the accounts had been hacked.m
Here’s the story behind the coin.
Introducing the $TRUMP Meme Coin
Trump’s official X (formerly Twitter) and Truth Social accounts shared news of a Solana-based memecoin, $TRUMP.
“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,” the post read, linking to a website.
Within hours, $TRUMP’s market cap surged to nearly $3.97B. Trading volume approached $1 billion, and the coin’s value soared more than 300%, jumping from $0.18 to $7.1.
The coin launched with 200 million tokens out of a total supply of 1 billion, which will be gradually released over the next three years.
How to Buy $TRUMP
You can buy $TRUMP meme coins directly through the website GetTrumpMemes. The website provides you the Solana Contract Address of the token and direct options to buy through a debit card or crypto.
Source: GetTrumpMemes
You can also buy the coin Solana-based exchange like Jupiter and a non-custodial wallet like Phantom. The token address is available on its official website, CoinMarketCap and SolScan. You can buy it through SOL or another token that is compatible with the Solana blockchain.
It’s essential to verify the address, as fake versions of the coin are already circulating. Purchases can be made in SOL or other SOL-compatible tokens.
When buying $TRUMP, users also gain access to the Trump Meme Community, which promotes success and optimism.
Is $TRUMP Legit? Experts Weigh In: Blockchain engineer Cygaar suggests that the new meme coin is likely created by the same team behind Trump’s previous NFT project, as the websites share several technical similarities. Additionally, Slorg, a member of Jupiter’s Core Working Group, confirmed that $TRUMP has been verified and listed on the Jupiter Exchange.
The Story Behind $TRUMP
According to The Trump Meme website, the coin’s assets are minted through the Solana blockchain. The website features a meme of President Trump with his fist raised and signature, marking the coin as a “piece of history.” The description highlights that on July 13, 2024, President Trump “faced death and came up fighting,” adding a personal touch to the meme.
The website also states that the coin is apolitical and not associated with any political campaign or office. Despite this, Trump and his family have been promoting a wide range of products during the 2024 campaign and as his inauguration approaches. These include a version of the holy book, a Les Paul-style guitar from “Trump Guitars,” gold Trump sneakers, assassination attempt cologne, and $100,000 watches.
Traders Took TRUMP Meme Coin To Next Level
Just after some traders took advantage of the opportunity and booked huge profits. According to the lookonchain data, 90 seconds after Trump announced the launch of $TRUMP a trader spent approximately 1.1M $USDC to buy 5.97 Million $TRUMP. So far, he sold 543K $TRUMP for $404K. He holding onto 5.43 Million $TRUMP, for a total profit of over $20M!
Another trader bought 6.1 million TRUMP tokens for 2.72 million USDC. The trader then sold 5.52 million TRUMP tokens for a price of $6.38 million, leaving behind 575,334 TRUMP meme coins. By making these profitable trades these traders prove that if you want to make money you have to be an opportunist.
Trump’s Growing Crypto Presence
In September, Trump announced that he and his family are launching a crypto business called World Liberty Financial. While $TRUMP has generated attention, its long-term value and potential remain uncertain.
Is $TRUMP here to stay? We’ll have to wait and see.
Source: Binance, The Crypto Times.
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