The post Trump Launches Meme Token ‘TRUMP’ Amid Market Frenzy appeared on BitcoinEthereumNews.com.

On January 17, President-elect Donald Trump took to X and Truth Social to unveil his first Solana-based meme coin, aptly named $TRUMP. Upon its launch, TRUMP debuted with an initial supply of 200 million tokens, with plans to gradually increase the total supply to 1 billion tokens over the next three years. The United States’ 47th president-elect Donald Trump a vocal advocate for cryptocurrency, has launched his first official meme coin, TRUMP. The announcement was made on his social media accounts, beginning with a post on Truth Social that read: My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. Shortly after, Trump posted the same announcement on X, amplifying the buzz surrounding the launch. Notably, TRUMP is built on the Solana blockchain (SOL) and debuted with an initial circulating supply of 200 million tokens. However, the total supply is planned to reach 1 billion over the next three years. The coin’s launch sparked a frenzy of trading activity, with one trader reportedly earning $20 million within the first hour. A Meteoric Price Surge TRUMP’s launch set off a trading frenzy, causing its price to skyrocket from an initial $0.18 to a staggering $3.70 shortly after. Within just 30 minutes of its launch, the coin’s market capitalization had already reached an impressive $1.2 billion. At the time of writing, TRUMP is trading at $13.10, marking an astronomical 4,000% increase from its launch price. This surge has now propelled the coin’s market capitalization to an astounding $ 2.7 billion. The ripple effects of the launch extended beyond the meme coin. Solana has seen a 9.56% increase in the last 24 hours, with its price climbing to $232, a reflection of the project’s impact on the broader crypto market. As…

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Filed under: News - @ January 18, 2025 4:24 pm