Elsie UdohHave you heard about the $TRUMP meme coin yet?
The US president-elect, Donald Trump, launched this new cryptocurrency just days before his inauguration on Monday.
Join our WhatsApp ChannelMeme coins are known for riding on viral trends and personalities to gain attention, but they often lack real value and can be very unpredictable. So, what makes the $TRUMP Meme Coin stand out?
Let’s dive into the details to find out everything you need to know about Trump’s $TRUMP meme coin.
What You Should Know About the $TRUMP Meme Coin
1. Launch Details
The $TRUMP coin was launched on Friday, January 17th, through Trump’s platforms, Truth Social and X.
2. Meme Coin Basics
Like other meme coins, $TRUMP is designed to capitalise on the popularity of viral trends, movements, or personalities.
3. Symbolic Meaning
Trump described the coin as a celebration of “winning” and resilience, reflecting his leadership style.
4. Ownership
About 80% of the coin’s total supply is held by entities linked to the Trump Organisation, specifically CIC Digital LLC and Fight Fight Fight LLC.
5. Trading
The coin is freely tradeable on the blockchain.
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6. Market Surge
Shortly after its launch, $TRUMP’s market capitalisation soared to nearly $6 billion.
7. Token Supply
It started with an initial supply of 200 million tokens, with plans to release another 800 million over the next three years, making a total of 1 billion coins.
8. Previous Ventures
The $TRUMP coin follows other Trump-branded merchandise like colognes, watches, and commemorative coins.
9. Backed by Big Names
The project is supported by funds from Binance and Gate, along with the team behind Trump’s previous NFT collections.
10. Future Integration
Partnerships with Binance and Gate suggest the potential integration of $TRUMP into the broader crypto ecosystem.
11. Regulatory Concerns
Ethics watchdogs and regulatory bodies have raised concerns about potential conflicts of interest, especially with Trump’s role in shaping policies that could affect the crypto industry.
12. Speculative Nature
Like most meme coins, $TRUMP holds no economic or transactional value and is largely associated with speculative trading.
13. Community Focus
The official website states that the tokens are meant as symbols of support for Trump’s ideals, fostering a community among holders rather than serving as investment opportunities.
14. Market Ranking
The $TRUMP coin has surpassed other popular tokens like Pepe (PEPE) and Shiba Inu (SHIB) to become the second-largest meme coin by market capitalisation, behind Dogecoin.
15. Political Impact
As Trump assumes office, his involvement in the crypto market could influence policy decisions and set new standards for political figures in the digital currency space.
Conclusion
With the launch of the $TRUMP meme coin, politics and digital money have been brought to a fusion. It is no wonder that there is a lot of buzz surrounding this new cryptocurrency.
Interestingly, Trump’s sons, Erik and Donald Jr., started their own crypto project last year, making it a family affair in the world of digital currencies.
Elsie Udoh is an SEO content writer who specialises in writing engaging stories that resonates with diverse audiences. She studied mass communication at the Lagos State University.
