Donald Trump Launches $TRUMP Memecoin, Hits $30B Market Cap in 24 Hours

Donald Trump, the U.S. President-elect, has unveiled a new memecoin on the Solana blockchain called $TRUMP, sparking a frenzy in the cryptocurrency market. Within 24 hours of its debut, $TRUMP‘s market capitalization skyrocketed to an extraordinary $30 billion, according to real-time data from trading platforms.

The memecoin, initially priced at $0.18, saw a meteoric rise of over 14,000% in a single day, becoming the fourth-largest memecoin by market cap. This rapid ascent underscores the immense influence of Trump’s brand in both traditional and digital markets. The surge in value was driven by high-profile endorsements and speculative trading, with reports of traders turning modest investments into millions overnight.

The launch also caused Solana‘s decentralized exchanges to experience a trading volume explosion, reaching $12.9 billion—over half the global volume for decentralized exchanges. This activity highlights Solana’s growing dominance in the memecoin sector, fueled by its low fees and fast transaction speeds, making it a preferred platform for high-volume and high-volatility trading.

Despite its rapid success, $TRUMP’s launch has stirred controversy. Initial concerns emerged over the authenticity of the announcement, with speculation about possible hacking of Trump’s social media accounts. However, official statements and the token’s website confirmed the launch as legitimate. It was also clarified that $TRUMP is not affiliated with any political campaign or office.

The tokenomics of $TRUMP feature a total supply of 1 billion tokens, with 200 million released at launch and the remainder to be distributed over three years. Notably, 80% of the supply is controlled by CIC Digital LLC, linked to The Trump Organization, and Fight Fight Fight LLC, a recently established Delaware company. This concentration of ownership has raised concerns about potential market manipulation and the token’s long-term viability.

Opinions about $TRUMP’s future are divided. Some view it as an innovative way to engage Trump’s supporters in the digital era, potentially ushering in a new trend of political memecoins. Others warn of the risks associated with investing in a memecoin with centralized ownership, cautioning against the speculative bubble it may represent.

The launch of $TRUMP comes amid Trump’s broader focus on the cryptocurrency industry, with promises to position the U.S. as the “crypto capital of the planet.” From NFTs to memecoins, Trump’s ventures continue to blur the boundaries between politics, business, and digital finance, sparking debate and intrigue across industries.