$TRUMP coin’s explosive debut: A 300% surge in hours shakes the crypto world

Donald Trump has once again captured global attention, this time with the launch of his $TRUMP meme coin. Announced just days before his second term as President of the United States, $TRUMP’s market cap soared to an eye-popping $8 billion in less than three hours.

Trading volumes approached $1 billion, and the coin’s value surged over 300% within minutes. By the time the dust settled, the price of $TRUMP had reached $7.1, up from an initial $0.18. As of 6:21 PM (IST), the coin was trading at $21.51, reflecting a remarkable 231.61% increase, as per CoinMarketCap data.

Built on the Solana network, the $TRUMP token has a total supply capped at 1 billion coins, with 200 million available initially. The remaining supply will be released in phases over three years.

Ownership is concentrated, with 80% of the tokens held by CIC Digital LLC, a Trump Organisation subsidiary, and Fight Fight Fight LLC, a newly formed Delaware-based company. The token is currently valued between $17 and $18 per coin, according to reports.

Trump introduced the coin on social media platforms Truth Social and X (formerly Twitter), calling it his “official Trump meme” and urging followers to acquire tokens through the website gettrumpmemes.com before the 48-hour claiming window closes.

The coin draws inspiration from Trump’s rallying slogan, “Fight, Fight, Fight,” reportedly shouted after surviving an assassination attempt in July 2024.

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. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC

— Donald J. Trump (@realDonaldTrump) January 18, 2025

The launch has sparked a frenzy on social media, with some users celebrating the move as a bold step into cryptocurrency, while others questioned its legitimacy. The official website denies any political ties, though the timing of the launch—mere days before Trump’s January 20 inauguration—has fuelled speculation.

Scepticism around $TRUMP remains strong, particularly amidst concerns of recent account hacks on X and Trump’s history of eccentric product ventures, including $100,000 watches and assassination attempt cologne. The project’s credibility has also been called into question due to the concentration of ownership and the unusual marketing approach.

Despite the controversy, trading volumes surged, and some early investors reported significant windfalls. One trader claimed a profit of $20 million within an hour of the coin’s release.

In less than three hours, $TRUMP’s market cap soared to an eye-popping $8 billion. Trading volumes approached $1 billion, and the coin’s value surged over 300% within minutes. By the time the dust settled, the price of $TRUMP had reached $7.1, up from an initial $0.18.

Someone turned $883 into $310,000 in 21 mins by buying President Trump’s meme coin $TRUMP. Wild stuff pic.twitter.com/64roYNCeil

— XRPHODL (@RetirementRight) January 18, 2025

Trump, who championed cryptocurrencies during his first term, has consistently positioned himself as a “crypto president.” Supporters see the $TRUMP token as a continuation of his pro-crypto stance, hinting that his upcoming term could bring further support for digital assets.