Key Points:
- The Solana-based memecoin TRUMP, tied to Donald Trump, reaches a market cap of $9 billion within hours of launch.
- High-profile trades and whale activity generate millions in profits for crypto enthusiasts.
- TRUMP’s launch drives record trading volumes on Solana’s decentralized exchanges.
Trump’s Memecoin Revolution in the Crypto World
The launch of TRUMP, a Solana-based memecoin linked to President-elect Donald Trump, has created a storm in the cryptocurrency market. Announced on January 17, just days before his inauguration as the 47th President of the United States, TRUMP soared to a market capitalization of $9 billion in mere hours. This rapid rise has positioned it above popular memecoins like PEPE and BONK.
Trump took to social media platforms Truth Social and X to announce the project, saying:
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW.”
While early skepticism surrounded the launch, with some speculating a potential hack, sources close to Trump’s family confirmed its legitimacy. The project is reportedly tied to his NFT ventures.
Million-Dollar Profits in Hours
The launch of TRUMP witnessed a series of high-stakes trades and remarkable profits for traders:
- A wallet named “LeBron”: Turned a $1 million USDC investment into over $2 million by purchasing 4.52 million TRUMP tokens just after the launch.
- Another trader’s success: Converted a $1.1 million investment into $70 million in under four hours, selling 1.35 million tokens for 3.65 million USDC and retaining 4.62 million tokens valued at $67.5 million.
- Pseudonymous trader 0xsun: Bought nearly 1 million TRUMP tokens for $653,000 and sold part of their holdings for $812,000, netting a $3.7 million profit.
- Whale activity: One whale purchased 1.27 million TRUMP tokens using over $14.3 million worth of Solana, while another spent 8.5 million USDC to buy tokens at an average price of $8.28.
Market Impact and Future Plans
As of now, TRUMP trades at $18.82, with a market cap of $4.28 billion, marking a 10,222% increase since its launch. Trading volumes have reached $1.71 billion across 227,625 transactions, according to Dexscreener.
The token’s website details its supply and distribution:
- Total supply: 1 billion tokens.
- 200 million tokens (20%) unlocked at launch, with the remaining 800 million distributed over 36 months.
- 80% of the supply allocated to CIC Digital LLC, tied to Trump’s NFT ventures, will unlock linearly over 24 months after an initial lock-up period.
- Remaining tokens: 10% for liquidity and 10% for public distribution, fully unlocked at launch.
Solana’s Decentralized Exchanges Hit New Highs
TRUMP’s launch also pushed Solana’s decentralized exchange (DEX) volumes to record levels, with a staggering $12.9 billion traded in 24 hours. Among the DEX platforms, Meteora led with $4 billion in volume, followed by Orca and Raydium. Centralized exchanges like Bybit, HTX, Gate, and Bitget have also listed the token.
The excitement surrounding TRUMP highlights the growing influence of memecoins and their ability to capture both market attention and significant investor gains. Whether TRUMP’s meteoric rise will sustain remains to be seen, but for now, it’s a clear win for crypto traders.
