Donald Trump’s ‘Official’ Memecoin Makes Millionaires, Raffles $3B Volumes in a Couple of Hours

2025-1-20 12:31

Is the coin real?

That was the question plaguing crypto traders as an “official” memecoin linked to President-elect Donald Trump was issued during the early Asian hours on Saturday with the announcement coming from Trump's verified X and Truth Social accounts.

The price of the token rocketed from a few cents to $14 in less than six hours amid widespread confusion on whether the token was actually backed by Trump or if someone had hacked Trump’s account and issued a fake token.

CoinDesk could not independently confirm if the legitimacy of the token.

The token — which is being viewed with skepticism among some traders — has attracted $3 billion in trading volumes hours after going live and commands a $2 billion market capitalization at the time of writing prices. It has netted early buyers over $70 million in paper gains, and smaller traders as much as $1 million, onchain data shows.

The apparent move comes days before Trump is scheduled to take office (Jan.20) and is the first time a president has given their likeness to a memecoin. It’s the latest in a long list of crypto-related businesses and products linked to Trump — with the Republican having previously issued multiple non-fungible tokens (NFTs) and the relatively new decentralized finance platform World Liberty Financial.

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!,” an X post from the @realDonaldTrump account reads. “Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!”

The X post went up on 02:44 UTC on Saturday and has stayed up until after 08:15 UTC.

The token was first posted on Trump’s Truth Social, where it ran from a fully diluted valuation of $200 million to over $1.3 billion in just over an hour. It gained traction and interest from crypto traders after the X post.

A disclaimer on the memecoin’s website stated that the Trump token is intended to function as an “expression of support for, and engagement with, the ideals and beliefs embodied by the symbol $TRUMP” and are not “intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”

The reasoning is in line with how memecoin markets have shaped up since late 2024, moving away from mere tokens related to pictures (such as dogecoin) to cult tokens where holders believe in a shared vision or idea that the brand implies (such as SPX6900 flipping the U.S. stock market, or MOG representing “tokenized winning.”)

Meanwhile, some previously-issued memecoins themed after Trump took a hit early Saturday, dropping as much as 50% as their value proposition fell.

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TrumpCoin (TRUMP) на Currencies.ru

$ 0.0214291 (+0.71%)
Объем 24H $0
Изменеия 24h: 11.68 %, 7d: 0.20 %
Cегодня L: $0.0187295 - H: $0.0214291
Капитализация $141.526k Rank 2573
Доступно / Всего 6.604m TRUMP

trump hours token whether amid widespread confusion

trump hours → Результатов: 103


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