Donald Trump appears to promote a Solana-based meme coin through his official social media accounts. Is this an elaborate hoax or the dawn of a bold new era in crypto?
On Friday night, Trump’s verified accounts on X (formerly Twitter) and Truth Social shared what seems to be an official announcement for a meme coin called TRUMP, just three days before his second presidential inauguration.
Degen traders wasted no time jumping in, generating hundreds of millions of dollars in trading volume. Meanwhile, blockchain experts scrambled to investigate potential red flags. However, as the posts remained live for over an hour and some initial concerns were cleared, evidence began mounting that this launch could indeed be legitimate.
Trump’s official post on X declared:
“My NEW Official Trump Meme coin is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
What Is Donald Trump’s Meme Coin All About?
The launch triggered excitement among meme coin enthusiasts, skepticism from crypto veterans, and widespread confusion. The situation resembled previous scams where hackers used celebrity accounts to promote pump-and-dump schemes.
However, doubts faded after Trump followed his Truth Social post with an announcement on X. The $TRUMP token consistently gained value without major dumps—an unusual trend for fraudulent projects.
Despite this, some red flags remained. For instance, on-chain analysts noted that the project’s initial funding came from Binance and Gate.io—two exchanges that don’t cater to U.S. customers. Nevertheless, further investigation revealed significant ties to Trump’s previous NFT ventures.
The coin’s website closely resembles the design and deployment of Trump’s previous NFT collection pages, all created by CIC Digital, the same licensee behind his official digital assets. Blockchain engineer cygaar observed, “Either this is the greatest cyber heist of all time, or this is legitimate.”
The Market’s Response
Crypto traders are flocking to the $TRUMP token. Its price has surged to $7.31 at the time of writing, with a reported market cap of $7.1 billion. Adjusted for the circulating supply of 200 million tokens (20% of the total 1 billion supply), the market cap sits closer to $1.5 billion. Trading volume has already reached $680 million, with liquidity holding steady.
Trump’s Pro-Crypto Leadership
Trump’s affinity for blockchain technology isn’t new. Beyond his successful NFT collections (2022–2024), he has supported decentralized finance initiatives, including backing a platform called World Liberty Financial.
Looking ahead, Trump’s pro-crypto stance could significantly impact the U.S. digital asset ecosystem. Reports suggest he plans to issue an executive order on cryptocurrency policy on his first day back in office, potentially ushering in a new era for blockchain builders and investors.
Whether the $TRUMP meme coin represents a groundbreaking venture or a bold marketing move, it has captured the crypto world’s attention. Ultimately, it has fueled new waves of speculation and enthusiasm within the digital asset space
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