What Is TRUMP? Donald Trump’s Official Solana Meme Coin Explained
The post What Is TRUMP? Donald Trump’s Official Solana Meme Coin Explained appeared on BitcoinEthereumNews.com.
Donald Trump has ventured further into the crypto world with the launch of Official Trump (TRUMP), a Solana-based meme coin. Announced just days before his second-term inauguration, the TRUMP token blends meme culture, politics, and blockchain into one eye-catching package. Despite initial skepticism of the token, confirmations from the President’s camp in the hours following its launch assured users of its legitimacy. Here’s what you need to know about TRUMP and why it’s gaining attention. A meme coin with a twist Like other meme coins such as Dogecoin and Shiba Inu, TRUMP leverages humor and cultural references to engage a broader audience. However, its origin sets it apart as the first high-profile meme coin explicitly tied to a U.S. President. The project was unveiled via Trump’s official Truth Social and X accounts, celebrating his election victory and upcoming inauguration on January 20, 2025. TRUMP is hosted on the Solana blockchain, a platform chosen for its speed and low transaction costs, making it well-suited for a mass-market crypto asset. Since its launch, the token has clocked a $10 billion market cap, according to data from CoinGecko, with a fully diluted valuation above $51 billion. Per Solscan, the token has roughly 855,000 unique on-chain address holders. How TRUMP works The TRUMP token has a total supply of 1 billion tokens, though only 200 million were released for trading at launch. The remaining tokens are locked and will be gradually unlocked over three years. The project is managed by CIC Digital LLC, an affiliate of the Trump Organization, and Fight Fight Fight LLC, a Delaware-based entity. According to its official website, TRUMP is “not intended to be an investment opportunity” and emphasizes its non-political and non-security nature. Trump Memes are designed as expressions of support and engagement with the ideals symbolized by “$TRUMP”…
Filed under: News - @ January 20, 2025 10:27 pm