The cryptocurrency world has seen a big change with the launch of a new meme coin called TRUMP. This coin is linked to former President Donald Trump. The TRUMP meme token has quickly caught people’s attention. It has stirred up both excitement and concern in the crypto space.
President-elect Donald Trump is making news again. He launched a new meme token called TRUMP on the Solana blockchain. He announced it on his Truth Social account. This has caused excitement and some doubts in the crypto community. The Trump Meme Token quickly became popular. It reached a market value of $15 billion soon after its launch. However, some experts have warned about the rapid rise.
Trump Meme Token Soars to $15B Market Cap
The price movement of the TRUMP meme token has been nothing short of wild. At 12:45 AM ET the token was worth $10 billion. In just three minutes, its value jumped to $11.6 billion. Now, it is valued at $15 billion. This huge increase has caught the eye of both crypto fans and critics.
Trump’s post on Truth Social was short but powerful. His message said:
“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.”
The token’s rapid growth has already led to some traders reaping massive profits. One investor made over $20 million from quickly selling the TRUMP meme token. The token is now priced at $13.60 per unit. This has added to the excitement.
TRUMP Meme Token: Controversy Meets Success
The TRUMP meme token’s launch has been met with a range of reactions. Some crypto traders are embracing the opportunity, while others are critical of Trump’s involvement in the meme coin market. AI and cryptocurrency commentator Brian Krassenstein expressed concerns, arguing that it is wrong for Trump to profit from a token that plays on his presidency. However, Ross Coin’s Churl Bistros showed support, stating, “That’s my president.”
Despite the criticism, many traders have rushed to buy the TRUMP meme token. Lookonchain reported one trader made over $20 million in just an hour. The excitement is clear, with many eager to invest.
Trump Buys and Sells TRUMP Tokens for Huge Profit
Interestingly, just 90 seconds after unveiling the token on Truth Social, Trump himself purchased nearly 6 million TRUMP tokens. Later, he sold a portion of them—543,000 tokens—for roughly $404,000, earning himself a $20 million profit in the process. This has led people to believe that Trump’s involvement in the token’s success might be more important than first thought.
Experts Dispute Claims of TRUMP Token Hack
Amid the excitement about the TRUMP meme token, some are questioning the legitimacy of the announcement. BlockNews warned that Trump’s Truth Social account might have been hacked. They advised the public not to interact with the account or the post.
Not everyone believes these claims. Daniel Evans, founder of Tennessee Investors Company, questioned the hack theory. He said if the account was hacked it would likely have been shut down by now. Tesla investor BlackApple.eth also disagreed, saying the hack rumors were untrue. Meanwhile, an X user criticized the media for causing doubt, which may have made people miss a good trading opportunity.
The launch of the TRUMP meme token has ignited a firestorm in the cryptocurrency market, achieving a staggering $15 billion market cap in a short period. While some crypto traders have profited handsomely, concerns over its legitimacy and Trump’s involvement have sparked debate. Critics argue the token exploits Trump’s presidency for financial gain, while others support the move. Despite warnings of a possible hack of Trump’s Truth Social account, the excitement around the token persists. With Trump himself profiting from the token’s surge, the TRUMP meme coin stands as both a financial success and a controversial topic in the crypto community.
