$TRUMP Memecoin Goes Viral, $3B in Volumes in Hours!

What to know:

Is the coin real?

Crypto traders, whether based in the United States or Asia, found themselves pondering a common question when a “recognized” meme-coin associated with former President Donald Trump was launched during the early hours of Saturday, as announced on his verified X and Truth Social accounts.

In just under six hours, prices for the token fluctuated drastically from mere pennies to $14, causing widespread perplexity as people questioned whether the token was truly associated with Trump or if it was a manipulated token created by a hacker attempting to deceive unwitting purchasers.

According to early reports from Europe on Saturday, CoinDesk couldn’t verify the authenticity of the token at the time.

The controversial digital asset, initially met with skepticism by certain investors, experienced a trading volume of approximately $3 billion shortly after its launch. Currently, it holds a market capitalization of around $2 billion based on current prices. Preliminary buyers have already garnered paper profits totaling over $70 million, while smaller traders have potentially earned up to $1 million each, according to on-chain data.

The action is taken just days before Trump assumes office on January 20, marking the first time a sitting president has expressed support for a meme coin. This move is the latest addition to Trump’s growing list of crypto-related ventures, which includes the issuance of multiple NFTs and the recently established decentralized finance platform World Liberty Financial.

A fresh, official meme featuring Donald Trump has just been released! Let’s rejoice in our shared values of success. If you’re interested, become part of my unique Trump community and grab your $TRUMP tokens right away. Visit http://gettrumpmemes.com to join the fun!

The X posting appeared at 2:44 UTC on a Saturday and remained active past 8:15 UTC. Initially, it seemed to be… (the rest of the sentence remains the same)

Initially, the token appeared on Donald Trump’s Truth Social platform. Within an hour, its worth skyrocketed from a potential value of $200 million to more than $1.3 billion. This surge in value attracted attention and curiosity from cryptocurrency enthusiasts following the X post.

As an analyst, I’d like to clarify that the Trump meme token on this site is primarily designed as a means to showcase support for and interaction with the iconic $TRUMP symbol. It’s essential to understand that these tokens are not intended to serve as investment opportunities, investment contracts, or any type of security.

The logic aligns with how meme coin markets have evolved since late 2024, shifting from coins simply tied to images (like Dogecoin) to cult coins where holders embrace a common belief in the vision or concept that the brand symbolizes. For example, SPX6900 could be seen as flipping the U.S. stock market, while MOG might represent “tokenized success.

Initially on Saturday, meme-based cryptocurrencies modeled after Trump experienced a sharp decline of up to 50%, losing their worth due to the weakening of their underlying value proposition.

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2025-01-18 12:35