TL:DR;
- With just days left until he steps into office, Donald Trump has once again taken the crypto community’s focus.
- This time, it’s because he has evidently launched a meme coin that has already soared in value and is among the top 40 largest altcoins by market cap.
Trump’s Official Meme Coin
It’s fair to conclude that the crypto world has encountered numerous unusual instances over the last ten years, particularly with regards to meme coins. In fact, these coins have been inspired by various themes such as pets (dogs and cats), popular cartoon characters like frogs, and even deceased squirrels.
It’s not common to witness the endorsement of a meme coin by the president-elect of the world’s leading economy. Yesterday, Donald J. Trump, via his Truth Social and X account, declared the launch of his new ‘official’ meme coin, encouraging his nearly 100 million followers to become part of his exclusive Trump Community.
Check out my latest Official Trump Meme! Let’s rejoice in all we believe in – Victory! Join my exclusive Trump Community. Secure your $TRUMP today. Visit the link for some fun!
— Donald J. Trump (@realDonaldTrump) January 18, 2025
Many individuals have raised doubts about the authenticity of the project, speculating it might be a hacked account. Yet, at this point, such suspicions seem unwarranted. The design of the meme coin’s website appears strikingly similar to those created for Trump’s prior NFT collections, both attributed to the same licensor – CIC Digital.
As an analyst, I’m pointing out that the current distribution stands at approximately 200 million units, but there’s potential for it to escalate to a billion in the coming three years. It’s worth noting that ‘creators and CIC Digital’ are set to control a substantial portion, amounting to 72% of the total share.
Despite others applauding the move and formally endorsing Trump’s entry into the crypto world, given that he already has a project named World Liberty, some, like ZachXBT, showed a great deal of skepticism instead.
Welcome to Top 40
Today, Trump (TRUMP) stands out as the leading stock with substantial gains, surging over 100%. According to information from CMC and CG, its market capitalization now exceeds $4 billion. At present, despite minor differences in their valuations ($4.3 billion on one platform versus $4.05 billion on the other), TRUMP has managed to break into the top 40 largest altcoins by market cap on both platforms.
Furthermore, Trump’s profits are being made during a significant pullback across all other meme coins, largely due to the hype surrounding his past presidency and future political influence.
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2025-01-18 13:38