Causing a stir among traders, newly elected US President Donald Trump launched the $TRUMP memecoin.
He presented official memecoin based on the Solana blockchain called $TRUMP just days before his inauguration for a second term. The announcement, made through Trump's official social media accounts X and Truth Social, caused a stir in the cryptocurrency world. Edition “Medusa” quotes:
“My NEW official memecoin is HERE! It's time to celebrate everything we stand for: VICTORY! Join my special Trump community. BUY $TRUMP NOW.”
The launch was met with both enthusiasm and skepticism, with traders rushing to snap up the coin, resulting in hundreds of millions of dollars in trading volume within a few hours.
Memcoin $TRUMP quickly rose in price, peaking at $23.03 in the latest trading data. DexScreener estimates the market capitalization at $4.28 billion, although this figure only takes into account the 200 million tokens in circulation, the total supply will reach 1 billion tokens. 80% of them are locked and will be gradually released over three years.
The capitalization of $TRUMP reached almost $10 billion in 2 hours. It has already been called one of the most successful launches of recent times. But questions remain about it long-term viability and regulatory implications.
With Donald Trump taking office, the coin's trajectory could become an indicator of the intersection of the cryptocurrency industry and politics, losing value along with the fall in the new president's ratings.
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