Trump Memes A cryptocurrency purportedly associated with President-elect Donald Trump skyrocketed to a staggering $8 billion market capitalization within a mere three hours of its debut on the Solana blockchain. This rapid ascent has sparked a whirlwind of excitement and skepticism across the cryptocurrency landscape.
The digital token, branded as Official Trump ($TRUMP), was unveiled on Friday via Trump’s Truth Social account. The announcement directed users to a website, GetTrumpMemes, for purchasing the token. Shortly afterward, a similar post appeared on X (formerly known as Twitter), presenting $TRUMP as the “official meme coin” tied to Trump.
Blockchain transaction data revealed a meteoric rise in $TRUMP’s value, with its price surging by over 300% in the initial three minutes of trading and trading volumes approaching $1 billion, according to GeckoTerminal. As of press time, the token was trading at $8.5 per unit.
However, questions about the token’s legitimacy quickly surfaced. Cygaar, a seasoned blockchain engineer, noted striking similarities between the infrastructure supporting $TRUMP and Trump’s prior NFT initiative. “It’s the same setup—Cloudflare configuration, Heroku deployment, and even the SSL certificate issuer,” Cygaar remarked, implying that the same team could be behind both endeavors.
Adding to the intrigue, Trump’s Truth Social account soon posted an unrelated announcement naming Peggy Schwinn as the new U.S. Deputy Secretary of Education. This abrupt shift fueled speculation of a possible account compromise, prompting cybersecurity experts to urge caution regarding the token.
Despite the lingering doubts, $TRUMP has been officially verified and listed on Jupiter Exchange. Slorg, a member of Jupiter’s Core Working Group, confirmed the token’s inclusion, stating, “We’ve approved it for our strictlist, but users should exercise vigilance.”
Inspired by Trump’s rallying cry, “Fight, Fight, Fight,” during a 2024 campaign event, the $TRUMP token launched with a total supply of 1 billion units. Of this, 200 million tokens were made available immediately, with the remaining 800 million locked and slated for phased release over the next three years.
The fervor surrounding $TRUMP underscores the volatile and often unpredictable convergence of politics and cryptocurrency. Trump’s association with blockchain markets continues to draw immense attention. Yet, the token’s authenticity remains uncertain, as neither Trump’s campaign team nor his representatives have responded to inquiries about the project.
The venture has already drawn parallels to Trump’s earlier NFT collection, which garnered significant popularity last year. Analysts are urging investors to proceed cautiously, given the unresolved questions about the token’s origins and legitimacy.