Donald Trump’s “TRUMP” Coin Makes Explosive Debut — Here’s What to Expect Next ⋆ ZyCrypto
The post Donald Trump’s “TRUMP” Coin Makes Explosive Debut — Here’s What to Expect Next ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     In a notable development, just days before his inauguration, U.S. President-elect Donald Trump announced the launch of his “official” meme coin, TRUMP, on social platforms X and Truth Social. Within hours of its debut, the cryptocurrency took the market by storm, recording a fully diluted valuation (FDV) of $16 billion in under 6 hours. This remarkable surge also drove the token’s market capitalization to $4.05 billion, setting the stage for one of the most dramatic openings in crypto history. Trump’s announcement, shared via a bold post on X, emphasized the coin’s symbolic significance. “My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: VICTORY! Join my special Trump community. Get your $TRUMP NOW,” Trump’s official X page tweeted early Saturday. The post also included a link to the official platform for purchasing the token, further fueling its meteoric rise. Debuting at just $0.05, the TRUMP token soared to $20 within hours, marking an astronomical 4,850% price surge. Trading volume skyrocketed past $1.7 billion as buyers rushed to capitalize on the hype. Advertisement   The TRUMP coin’s unprecedented rise has shaken the meme coin market, dethroning several established tokens like Pepe and Bonk, rivaling Dogecoin (DOGE) as the top meme cryptocurrency. Elsewhere, some early adopters have already reaped extraordinary profits. One investor turned a $1.09 million investment into $29.8 million within just two hours, while another pocketed a staggering $70 million from a $1.1 million buy-in. Nevertheless, despite the hype, some analysts have voiced concerns about the 80% of the token supply that remains locked. If these locked tokens are released, they could significantly affect the market, potentially leading to heightened price volatility. Meanwhile, the surge in demand has prompted major crypto exchanges to take action. Prominent platforms launched spot trading for the…
Filed under: News - @ January 18, 2025 5:27 pm